Suppose an Income Tax Is Levied in the Following Way

question 34

Multiple Choice

Suppose an income tax is levied in the following way: All individuals pay 10 percent of their income up to an income of $30 000. On all income above $30 000, individuals pay 20 percent of their income. Such a tax is

• A) unrealistic.
• B) indexed.
• C) regressive.
• D) proportional.
• E) progressive.

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Definitions:

Subduction Zone

A region of the Earth's crust where two tectonic plates converge, and one plate is forced below the other into the mantle.

Metamorphism

Metamorphism is the process by which the mineral composition and texture of a rock are transformed by heat, pressure, and chemical processes.

Fold and Thrust Belts

These are elongated areas of folding and thrust faulting typically associated with convergent plate boundaries, leading to the formation of mountains and ridges.

Convergent Plate Boundaries

Regions where two tectonic plates move towards each other, often resulting in mountain building, earthquakes, and volcanic activity.