Business, 05.05.2020 08:12 connersitte1221l

As the economy declines into recession, the collection of personal income tax revenues automatically falls. This phenomenon best illustrates how a progressive income-tax system Multiple Choice offsets the timing problem for fiscal policy. decreases real interest rates in the economy. serves as an automatic stabilizer for the economy. increases crowding out in the economy.

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As the economy declines into recession, the collection of personal income tax revenues automatically...