Use the Table Below to Answer the Following Questions

question 63

Multiple Choice

Use the table below to answer the following questions.
Table 20.2.4

-Refer to Table 20.2.4. Gross domestic product is equal to

• A)$2,400.
• B)$1,920.
• C)$2,150.
• D)$1,940.
• E)$2,350.

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Definitions:

Proportional Taxes

Taxes that are imposed at a constant rate regardless of the income level of the taxpayer.

Regressive Effect

A situation where a tax or fiscal policy disproportionately affects lower-income individuals, making them pay a higher percentage of their income than wealthier individuals.

Economic Role

The function or position held by an entity or individual within an economic system, influencing the allocation of resources and creation of goods and services.

Government

The system or group of people governing an organized community, often a state, and managing its affairs and resources.