Assume that the government proposes a negative income tax that calculates the taxes owed as follows: Taxes Owed = (1/3 
Income) - 10,000.A family that earns an income of $30,000 will
A) neither pay taxes nor receive an income subsidy.
B) receive an income subsidy of $500.
C) pay $1,000 in taxes.
D) pay $600 in taxes.
Correct Answer:
Verified
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