An income tax in which the average tax rate increases with income is called a
A) regressive income tax.
B) proportional income tax.
C) flat-rate income tax.
D) progressive income tax.
D
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What type of income tax is reflected in the table above?
A) regressive income tax B) proportional income tax C) progressive income tax D) negative income tax
Perfectly competitive markets are characterized by:
a. a small number of very large producers. b. very strong barriers to entry and exit. c. firms selling a homogeneous product. d. all of these.
Why is deflation such a problem?
A. It increases the value of debt, making it harder to pay it back. B. It decreases the value of debt, making it harder to pay it back. C. It increases the value of debt, making it easier to pay it back. D. It decreases the value of debt, making it easier to pay it back.
Which of the following is true?
a. The United States is rich because it has democratic political institutions. b. Economic growth is primarily the result of gains from trade, discovery of better ways of doing things, and capital investment. c. Without foreign aid, poor countries are unable to break the cycle of poverty, low savings and investment, and economic stagnation. d. Most all countries with an abundance of natural resources have been able to achieve rapid growth and high levels of per capita income.