If, as your taxable income decreases, you pay a larger percentage of your taxable income in taxes, then the tax is
A) regressive. B) progressive. C) proportional. D) unfair.
A
You might also like to view...
The reversal of fortune can be attributed to the fact that:
A) economic institutions in European colonies were inclusive in all nations. B) economic institutions in European colonies were extractive in prosperous nations and inclusive in other nations. C) economic institutions in European colonies were extractive in all nations. D) economic institutions in European colonies were inclusive in prosperous nations and extractive in other nations.
The price of a new electronic toy increases from $16 to $24 and the quantity demanded decreases from 1,050 to 950 per month as a result. Based on this information, the price elasticity of demand (in absolute terms) is estimated to be equal to:
a. 5.00 b. 4.00 c. 0.75 d. 0.25