Asked by
my nga tran ngo
on Dec 11, 2024Verified
The Laffer curve illustrates the relationship between
A) supply and demand.
B) tax rates and tax revenues.
C) opportunity cost and inflation.
D) tax liability and taxable income.
Laffer Curve
A representation of the relationship between rates of taxation and the resulting levels of government revenue that illustrates there can be an optimum tax rate that maximizes revenue.
Tax Revenues
The income that is collected by governments through taxation.
- Comprehend the principle and consequences of the Laffer curve in relation to tax rates and government income.
Verified Answer
TV
Learning Objectives
- Comprehend the principle and consequences of the Laffer curve in relation to tax rates and government income.