Jamal earns $160,000 per year and Josephina earns $80,000 per year. If Jamal pays $16,000 in income taxes and Josephina pays $5,000 in income taxes, the income tax system would be
A) regressive.
B) progressive.
C) proportional.
D) marginal.
Answer: B
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Charging drivers with good records lower premiums than drivers with bad records is an example of an attempt by insurance companies to deal with the problem of
A) moral hazard. B) adverse selection. C) drunk driving. D) failure of policyholders to keep paying their premiums.
The "allowable deficit" that causes no change in the debt-GDP ratio is equal to the ________ times ________
A) interest rate, outstanding national debt B) interest rate, nominal GDP C) rate of nominal GDP growth, outstanding national debt D) rate of nominal GDP growth, nominal GDP
Which of the following is not an example of M1 money?
(A) A checking account (B) Travelers' checks (C) Currency (D) A mutual fund
Cartels, tacit collusion, and predatory pricing are all illegal under U.S. antitrust laws.
Answer the following statement true (T) or false (F)