When the economy enters a prosperity phase,personal income tax collections:
A) fall and so disposable income and spending fall more slowly than real GDP.
B) fall and so disposable income and spending do not rise as rapidly as real GDP.
C) rise and so disposable income and spending do not rise as rapidly as real GDP.
D) rise and so disposable income and spending fall more slowly than real GDP.
E) fall and so disposable income and spending fall at the same rate as real GDP.
Correct Answer:
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