Attempting to reduce your taxes is illegal.

a. The chief goal of tax planning is to completely avoid paying all taxes.

b .The highest federal income tax bracket is 98%.

c. The chief goal of tax planning is to maximize the money that you can legally keep by minimizing the taxes you pay.

d. All statement are true.

2. As wealth increases the utility we get from additional money

a. is negative

b. increases but at a decreasing rate.

c. is due to inflation.

d. causes hyperinflation.

e. creates a drag on portfolio returns.

3. Personal financial planning is important because it

a. controls inflation.

b. limits consumption.

c. uses money as an end.

d. makes personal financial goals easier to achieve.

e.lessens economic differences among individuals.