If with the Increase in Income, the Percentage of Income

question 3

Multiple Choice

If with the increase in income, the percentage of income collected as tax remains constant, tax will be called

• A)regressive
• B)progressive
• C)proportional
• D)neutral

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Definitions:

Casualty Insurance Coverage

Insurance that protects an individual or entity against loss or damage to property or individuals, typically covering accidents.

Effective Date

The date on which something, such as a law, agreement, or policy, becomes officially operational or enforceable.

Corporate Insurance

A type of insurance coverage designed to protect corporations from financial losses due to events such as property damage, liability claims, and employee-related risks.

Liability Insurance

Insurance protection that offers defense against claims related to harm or damage inflicted on other individuals or their property.