The Phrase Quid Pro Quo Means

question 67

Multiple Choice

The phrase quid pro quo means

• A) professional services.
• B) something for something.
• C) an intention to contract.
• D) agreement on point.
• E) a thing of value.

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Definitions:

Income Taxes

Taxes levied by governments on individuals or corporations' income, where the tax rate may increase as the taxable amount increases.

Excise Taxes

Taxes imposed on the sale of specific goods and services, such as tobacco, alcohol, and gasoline, usually aimed at discouraging their consumption or generating revenue.

Regressive Tax

A tax that takes a larger percentage from low-income earners than from high-income earners, considered regressive because it affects those who are less able to pay.

Proportional Tax

A tax system where the tax rate is fixed and the same for all income levels.