A tax system in which the average and marginal tax rates are the same for every level of taxable income and every change in income is an example of
A) regressive taxation.
B) proportional taxation.
C) progressive taxation.
D) premium taxation.
Answer: B
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For which of the following goods would the price elasticity of demand ordinarily be greatest?
A) Gasoline B) Mobil regular gasoline C) Petroleum products D) Transportation services E) Unleaded gasoline
National income is defined as gross national product minus
a. depreciation and net taxes. b. national income. c. depreciation. d. personal disposable income.
If the firms in an industry represented 35%, 25%, 20%, 15%, and 5% of the market's total revenues, respectively, what would be the measure of the Herfindahl-Hirschman Index for this industry?
a. 2,500 b. 3,525 c. 7,725 d. 10,000
Which of the following would be considered a contingent? contract?
A) a piece rate contract B) a profit-sharing contract C) a contact with a bonus D) All of the above.