A tax where the percentage of income paid in taxes is the same regardless of the size of the income is a:
a. proportional tax.
b. regressive tax.
c. progressive tax.
d. mix of a and b.
a
Economics
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The Q-theory of investment
A) suggests that a downturn in real GDP will lead to a sharp fall in investment, which leads to further reductions in GDP through the multiplier. B) emphasizes the role of real interest rates and taxes. C) emphasizes that current investment spending depends positively on the expected future growth of GDP. D) links investment spending to stock prices.
Economics
Microeconomic topics do not usually include: a. how wages are determined in the labor market
b. the magnitude of national income. c. how firms choose output to maximize profits. d. how consumers maximize utility subject to a budget constraint.
Economics