Examlex
Which of the following will cause a decrease in the demand for peanut butter?
Regressive
A term describing a tax system where the tax rate decreases as the taxable amount increases, disproportionately affecting those with lower incomes.
Payroll Tax
Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay their staff.
Federal Personal Income Tax
A tax levied by the federal government on the yearly income of individuals, with the rate applied varying according to the income level.
Progressive Taxes
A tax system in which the tax rate increases as the taxable amount increases, placing a higher tax burden on individuals with higher incomes.
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