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04 Jun 2022, 05:00
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E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
90% (01:12) correct
10%
(01:27)
wrong
based on 174
sessions
History
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Time
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Not Attempted Yet
Which of the following, if true, is the best and most logical completion of the argument below?
The United States tax system encourages indebtedness by making home mortgage loan interest tax deductible. In addition, the U.S. taxes gains on stock savings. The U.S., however, does have policy to increase savings, such as _________.
A. Encouraging consumers to buy homes.
B. giving tax deductions to bank lenders engaged in high-risk loans in impoverished neighborhoods.
C. subsidizing the sales of automobiles.
D. offering deductions for charitable donations.
E. allowing tax reductions for parts of a taxpayer’s income that are set aside as savings plans.
The United States tax system encourages indebtedness by making home mortgage loan interest tax deductible. In addition, the U.S. taxes gains on stock savings. The U.S., however, does have policy to increase savings, such as _________.
A. Encouraging consumers to buy homes.
B. giving tax deductions to bank lenders engaged in high-risk loans in impoverished neighborhoods.
C. subsidizing the sales of automobiles.
D. offering deductions for charitable donations.
E. allowing tax reductions for parts of a taxpayer’s income that are set aside as savings plans.
06 Jun 2022, 20:28
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Bunuel
Question type: Complete the Argument
For this question type, it's often not necessary to locate a conclusion and premise(s). Sometimes, GMAC is asking for the conclusion. Sometimes for a premise. Sometimes for an assumption. Sometimes for an inference. In this case, we are looking for something the US does to encourage increased savings.
A. Encouraging consumers to buy homes.
Homes are an asset, but they aren't savings. Eliminate.
B. giving tax deductions to bank lenders engaged in high-risk loans in impoverished neighborhoods.
If anything, this would encourage more indebtedness (loans) in those neighborhoods, not more savings. Eliminate.
C. subsidizing the sales of automobiles.
If anything, this would encourage more spending on automobiles, not more savings. Eliminate.
D. offering deductions for charitable donations.
How nice of them. But it doesn't encourage savings. Eliminate.
E. allowing tax reductions for parts of a taxpayer’s income that are set aside as savings plans.
Wait, so if I contribute to my savings, there might be tax reductions? Nice!
Answer choice E.
06 Jun 2022, 22:44
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I had to double read the sentence to understand coz at the first glance i thought the answer option A, but on the second read the sentence made meaning with ending of option E.
