A progressive tax
a. is one that taxes those with higher incomes at a higher rate than those with lower incomes.
b. takes a similar percentage in the form of taxes from those with higher incomes as it does from those with lower incomes.
c. takes a higher percentage of income in the form of taxes from those with lower incomes than from those with higher incomes.
d. is any tax in which the dollar amount of taxes paid increases with income.
A
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If potential GDP increases, then the
A) real wage rate increases. B) real wage rate falls. C) aggregate supply curve shifts leftward. D) aggregate demand curve shifts rightward. E) aggregate supply curve shifts rightward.
Bond coupon payments represent
A) dividends paid to owners. B) interest on the amount borrowed. C) capital gains for tax purposes. D) payments to preferred shareholders.
All of the following costs are included in the calculation of accounting profit, except
a. Interest payments on borrowed funds b. Costs paid to suppliers for product ingredients c. Opportunity cost of capital d. Depreciation expenses related to investments in buildings and equipment
Jake is an excellent barber. However, all customers who come to him for a haircut must buy a bottle of shampoo. This type of arrangement is known as
A) a tie-in sale. B) a sweetheart deal. C) an exclusive contract. D) a cross subsidy.