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College Continuing Education

None Management Questions

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None Management
In 1975, a province reduced its personal income tax rate by 2 percent for most tax payers. In 1976 the personal income tax rate for those taxpayers was again reduced by 2 percent. Despite the decreased in the personal income tax rate, the total amount of money collected from personal income taxes remained constant from 1974 tp 1975 and rose substantially in 1976.

Each of the following, if true, could help to resolve the apparent discrepancy described above EXCEPT:
  1. The years 1975 and 1976 were ones in which the province's economy was especially prosperous.
  2. The definition of "personal income" used by the province was widened during 1975 to include income received from personal investments.
  3. The personal income tax rate for the wealthiest individuals in the province rose during 1975 and 1976
  4. The province's total revenue from all taxes increades during both 1975 and 1976
  5. A large number of people from the other provinces moved to the province during 1975 and 1976
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