Which of the Following Statements About Implicit and Explicit Taxes

Which of the following statements about implicit and explicit taxes is false?

A) The taxpayer pays an explicit tax to the taxing jurisdiction.
B) An investment yielding ordinary income taxed at the regular tax rates should not have an implicit tax.
C) Any implicit tax on investment income is always more than the explicit tax on the income.
D) An implicit tax reduces the before-tax yield on an investment.