Which of the Following Is not a Regressive Tax

question 54

Multiple Choice

Which of the following is not a regressive tax?

• A) Social Security tax
• B) Medicare tax
• C) state sales tax
• D) federal income tax
• E) local real estate tax

Apply the concept of marginal utility to real-world product consumption decisions for maximization of total utility.

Analyze how changes in income and prices affect consumer choices and utility maximization.

Grasp the underlying assumptions of the theory of consumer behavior, including utility maximization.

Identify and describe the income effect, substitution effect, and diminishing marginal utility, and their implications for demand curves.