Using the above table, evaluate whether this tax is proportional, regressive or progressive. Show all work in arriving at your answer
What will be an ideal response?
This is a progressive tax. The tax rate rises with income from 5% at $20,000 to 14% at $50,000 .
Economics
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Most of world trade is in the form of manufactured consumer goods such as TVs, stereos, VCRs, and running shoes
Indicate whether the statement is true or false
Economics
Utility theory is an efficient tool in making interpersonal utility comparisons
a. True b. False Indicate whether the statement is true or false
Economics