Re: Five years ago, as part of a plan to encourage citizens of Levaska to
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10 Feb 2023, 10:05
A. A substantial number of Levaskans have withdrawn at least some of the money they had invested in the special accounts. - Incorrect. Irrelevant
B. Workers in Levaska who already save money in long-term tax-free accounts that are offered through their workplace cannot take advantage of the special savings accounts introduced by the government. - Incorrect. We already know that millions of dollars have accumulated in the special accounts. The fact that workers cannot take advantage of the special account does not weaken the fact that millions of dollars are already saved in the special accounts.
C. The rate at which interest earned on money deposited in regular savings accounts is taxed depends on the income bracket of the account holder. - Incorrect. Irrelevant
D. Many Levaskans who already had long-term savings have steadily been transferring those savings into the special accounts. - Correct. Millions of dollars were already saved in different accounts. Now, the amount is just transferred from different accounts to special account. The plan was to encourage savings. But here the savings are just transferred and the net savings has not increased.
E. Many of the economists who now claim that the government’s plan has been successful criticized it when it was introduced - Incorrect. Irrelevant
Answer: D