An income tax for which the average tax rate decreases with income is called a
A) regressive income tax.
B) proportional income tax.
C) flat-rate income tax.
D) progressive income tax.
A
You might also like to view...
Which of the following contributed to the downfall of the Soviet Union in 1991?
A) the lack of a strong dictator who could coordinate economic activities B) an overabundance of high-quality goods and services C) an inability to produce low-cost consumer goods that households wanted D) government dissatisfaction with high living standards and political freedom
An assistant manager at a restaurant gets a $100 a month raise. He figures that with his new monthly salary he cannot buy as many goods and services as he could buy last year
a. His real and nominal salary have risen. b. His real and nominal salary have fallen. c. His real salary has risen and his nominal salary has fallen. d. His real salary has fallen and his nominal salary has risen.