If a person is taxed $100 on an income of $1,000, taxed $180 on an income of $2,000, and taxed $220 on an income of $3,000, this person is paying a:
a. poll tax.
b. proportional tax.
c. regressive tax.
d. progressive tax.
c
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Refer to Figure 10.1. If Daisy does not contribute to the lighting, Luke should
A) contribute if Bo contributes. B) not contribute only if Bo does not contribute. C) not contribute regardless of what Bo decides to do. D) contribute if Bo does not contribute.
At the competitive market outcome in the above figure, the
A) producer surplus is equal to $480 million. B) total producer surplus from turkey sales is zero. C) sum of consumer and producer surpluses from turkey is $640 million. D) All of the above answers are correct.
A technological change that raises the value of marginal product of capital ________ the rental rate of capital because the ________
A) raises; supply curve of capital shifts leftward B) lowers; supply curve of capital shifts rightward C) raises; demand curve for capital shifts rightward D) lowers; demand curve for capital shifts leftward
When you see a commercial on TV asking you to "look for the union label," the union is trying to
A) increase worker productivity. B) increase the demand for nonunion goods. C) increase the demand for union goods. D) decrease the demand for nonunion goods.