Assume a family that earns $20,000 pays $1,000 in income taxes, while a family that earns $40,000 pays $3,750 in income taxes. In this situation, the income tax system is
A) progressive.
B) regressive.
C) proportional.
D) one of the above but we cannot tell which one without more information.
Answer: A
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The monthly average of the 35 highest earnings years adjusted for wage inflation is the
A. most the retiree can receive in interest without having part of their benefit reduced. B. PIA. C. AIME. D. amount of the retiree's monthly check.
Holding all else constant, if the U.S. government restricts capital outflows, then the equilibrium value of the U.S. dollar will:
A. appreciate B. remain fixed. C. depreciate. D. be determined by the Federal Reserve.
A theory is an untested assertion of alleged fact.
Answer the following statement true (T) or false (F)
The invisible hand's ability to coordinate the decisions of the firms and households in the economy can be hindered by
a. government actions that distort prices. b. increased competition in markets. c. enforcement of property rights. d. too much attention paid to efficiency.