A 7.25 percent sales tax
A. Is a regressive tax because poor individuals consume a higher percentage of their income than high-income individuals.
B. Does not impose an additional tax burden on most individuals because the sales tax is paid entirely by the seller.
C. Is a progressive tax because high-income individuals buy more goods and services than low-income individuals.
D. Is a proportional tax because the rate is the same for all income groups.
Answer: A
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Indicate whether the statement is true or false
Lately, the Chinese authorities seem to be backing away from ____ and the Yuan has ____ relative to the dollar.
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