Answer the next question on the basis of the following five schedules, all of which represent income tax schedules for an economy. All figures are in billions of dollars.IIIIIIIVVTaxBase (Income)TaxBase (Income)TaxBase (Income)TaxBase (Income)TaxBase (Income)$30$100$10$100$5$100$30$100$10$10050200202001520060200302006030030300303009030060300704004040050400120400100400Which of the above schedules represent(s) a progressive tax?
A. III and V
B. III only
C. II and III
D. V only
Answer: A
Economics
You might also like to view...
A characteristic of public goods is that use of the good by one person does not reduce its availability to others. The term for this characteristic is.
a. Non-exclusive b. Transferable c. Non-rival d. Perfectly elastic e. Free-rider
Economics
The process through which an economy's production possibilities curve is shifted outward is:
A) comparative advantage. B) economic growth. C) full employment. D) specialization.
Economics