Which of the following is the best description of the U.S. tax system?
A. The federal income tax is progressive, but sales, property, and other taxes tend to be regressive.
B. The U.S. tax system is consistently progressive.
C. The U.S. tax system is consistently regressive.
D. The federal income tax is regressive, but sales, property, and other taxes tend to be progressive.
Answer: A
You might also like to view...
Refer to the above figure. The figure gives the payoff matrix for two individuals who are being accused of robbing a bank together. What is dominant strategy for Bob?
A) Confess. B) Don't confess. C) Flip a coin to decide what to do. D) There is no dominant strategy.
A lottery promises a $250,000 prize. But the prize money is paid out in $50,000 annual installments with the first installment received today.. The winner is offered the option of an immediate lump-sum payment. If the interest rate remains at 10 percent for the entire period, what is the smallest amount the winner should accept?
a. $189,540 b. $192,970 c. $208,494 d. $225,000