True/ False

1. The extensive margin of personal income taxation is more important for high-income earners because they have greater ability to shift their income sources to avoid taxes
2. When calculating Corporate Income Tax Base, wages/salaries and the costs of machinery are deducted immediately within a full year they are incurred
3. Optimal Personal Income tax rate for top income earners is the tax rate that maximizes government revenue collected from this group
4. Rachel would be better off in the next 10 years if she were to contribute $20,000 to a TFSA account then a RRSP assuming that the nominal interest rate is 2%.