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
One major criticism of foreign aid to developing countries is that it ...
The most important factor ensuring economic development is the ...
Given that Qd = 10 - 2p while Qs = 5 + 3P, if P = N 1 determine the equilibrium quantity. ...
Which one of the following functions of banks in Nigeria is reserved to the Central Bank? ...
An ad valorem tax is imposed on_____? ...
A fall in the price of a normal commodity which has elastic demand will result in ...
All the following are methods of determining prices except? ...