If an individual who earns $20,000 pays $2,000 in taxes and another individual who earns $100,000 pays $10,000 in taxes, then these individuals are being taxed under a _______ tax system
a. toll
b. regressive
c. progressive
d. proportional
e. negative income
d
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When a good gets better from one year to the next, the CPI has a what is called
A) commodity substitution bias. B) outlet substitution bias. C) magnitude of change bias. D) new goods bias. E) quality change bias.
If velocity and output are fixed at 5 and 400, respectively, and the price level is 2, then the money supply is
A) 4,000. B) 200. C) 160. D) 40.
Real investment spending is ____ real personal consumption
a. equal to b. greater than c. stable compared to d. highly volatile compared to
The fact that someone with information about a significant number of illnesses in their family history is likely to purchase health insurance is an example of
a. adverse selection. b. monitoring. c. moral hazard. d. screening.