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. An excise tax.
C. Proportional.
D. Progressive.
Answer: A
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A) incentives to change behavior after two parties have reached an agreement. B) risk. C) lump-sum taxes. D) private information.
The rule of reason would have not found a well-behaved, but gigantic, firm to be in violation of the antitrust laws
a. True b. False Indicate whether the statement is true or false
A production possibilities curve shows the various combinations of two outputs that:
a. an economy should produce. b. an economy can produce. c. consumers would like to consume. d. producers would like to produce.
Saving equals
A. consumption spending minus savings. B. disposable income minus savings. C. disposable income minus consumption spending. D. disposable income minus taxes.