Which of the following examples illustrates a progressive income tax?
a. I earn $500 and pay $50 in taxes; you earn $1,000 and pay $100 in taxes.
b. I earn $500 and pay $50 in taxes; you earn $1,000 and pay $50 in taxes.
c. I earn $500 and pay $50 in taxes; you earn $1,000 and pay $80 in taxes.
d. I earn $500 and pay $50 in taxes; you earn $1,000 and pay $125 in taxes.
D
You might also like to view...
If the national debt rises to the debt ceiling and there is currently a budget ________, the Congress and the President must agree to ________ the debt ceiling or else the federal government will have insufficient funds to pay its bills and will be forced to shut down.
A. surplus, lower B. deficit, raise C. surplus, raise D. deficit, lower
Which of the following would we expect to have the highest poverty rate?
A. White households headed by males. B. Elderly white households. C. White households headed by females. D. African-American households headed by females.
If a CEO is a better at typing a document than his assistant, he is said to have a(n) ________ advantage in typing over his assistant.
A. absolute B. overwhelming C. unusual D. relative
Refer to the information provided in Table 24.5 below to answer the question(s) that follow.Table 24.5All Numbers are in $ Million
Refer to Table 24.5. The MPC in this economy is ________ and the MPS is ________.
A. 0.5; 0.5 B. 0.9; 0.1 C. 0.8; 0.2 D. 0.7; 0.5