The curve labelled W shows the
...Use the graph above to answer the question
The curve labelled W shows the
Regressive tax
Proportional tax
Specific tax
Progressive tax
Correct answer is D
A progressive tax is a tax system in which the tax rate increases as the amount of taxable income increases. This means that people with higher incomes pay a higher percentage of their income in taxes than people with lower incomes.
The curve labeled W shows that the tax rate increases as the amount of taxable income increases. This is the defining characteristic of a progressive tax system.
Similar Questions
A major determinant of the demand for a luxury goods is ...
Production is not complete until the ...
Guided deregulation as currently practised in Nigeria implies that ...
As a country gets more developed, the percentage of labour engaged in agriculture tends to ...
In a developing economy, productivity is measured by the___________ ...
A budget with a projected revenue in excess of its expenditure is said to be ...