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Question $37$

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All income other than capital gains is referred to as $\_\_\_\_\_.$

Question $37$Select one:

a$.$

ordinary income

b$.$

gross income

c$.$

personal income

d$.$

earned income

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Question $38$

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High$-$income households who have sufficient adjustments, deductions and credits to reduce their income tax liability to low levels may instead be subject to the $\_\_\_\_\_\_$ so that they pay a more appropriate level of taxes based on their gross income.

Question $38$Select one:

a$.$

gross adjusted tax

b$.$

alternative$-$minimum tax

c$.$

progressive adjusted tax

d$.$

value$-$added tax