Which of the following statements is true? Tax rates refer to the percentage of income that is taxed, whereas tax revenues refer to the dollars collected by government in taxes. Tax revenues refer to the percentage of income that is taxed, whereas tax rates refer to the dollars collected by government in taxes. Tax rates refer to the income that is taxed, whereas tax revenues refer to the dollars collected by government in taxes. Tax rates refer to the percentage of income that is taxed, whereas tax revenues refer to the dollars spent by government.
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