IBE316: Economic Policy Quiz #5 Name: ID: 1. What is NOT true about tax revenues in the US and in Japan? A) The share of individual income tax is larger in the US. B) The share of payroll tax is much smaller in Japan. C) Excise taxes are falling in both countries. D) None of the above. 2. What is true about the automatic (built-in) stabilizing effect of progressive taxation? 3. What is true about a Pareto efficient tax system?