Suppose that if your income is $50,000, your tax is $5,000, but if your income is $100,000, your tax is $8,000. Such a tax is
A. Regressive.
B. Proportional.
C. Progressive.
D. An excise tax.
Answer: A
You might also like to view...
Imports from China represent ____ of total U.S. imports.
A. less than 20 percent B. approximately 40 percent C. approximately 60 percent D. more than 80 percent
Risks faced by multinational corporations include
A) changes in exchange rates. B) restrictions on ownership. C) repatriation of funds. D) cultural and religious philosophies. E) All of the above
In the balance of payments, the buying and selling of real and financial assets is represented in
A) current account. B) capital account. C) labor account. D) official reserve transactions account.
Which of the following statements is true
a. a market equilibrium price is where quantity demanded equals quantity supplied b. a market equilibrium price is where the demand is higher than the supply c. a market equilibrium price is where the supply is higher than the demand d. none of the above