An income tax for which the average tax rate is constant called a
A) regressive income tax.
B) proportional income tax.
C) marginal income tax.
D) progressive income tax.
B
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Which of the following is not true about a monopsonist?
A. It can set the wage rate and hire any desired number of workers at that wage. B. It is the only buyer of labor in a market. C. It usually extracts rents from its monopsony power. D. It determines the optimal employment-wage rate combination by equating the marginal revenue product of labor to the marginal cost of labor.
Refer to Table 3.1 to answer the following questionTable 3.1 Individual Demand and Supply SchedulesQuantity Demanded byPriceAlejandroBenCarlMarket$8.00842________6.001244________4.002046________2.002246________Quantity Supplied byPriceAveryBrandonCassandra $8.006046________$6.004244________$4.002442________$2.00640________In Table 3.1, if the price is $2, the market will
A. Experience a surplus of 30 units. B. Experience a surplus of 56 units. C. Experience a shortage of 22 units. D. Be in equilibrium.