Table 12-13 The Table Below Provides Information on the 4 Households That

question 329

Multiple Choice

Table 12-13
The table below provides information on the 4 households that make up a small economy and how much they would pay in taxes under 3 types of taxes.
-Refer to Table 12-13. In this economy Tax B exhibits

• A)horizontal and vertical equity.
• B)horizontal equity but not vertical equity.
• C)vertical equity but not horizontal equity.
• D)neither horizontal nor vertical equity.

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Definitions:

Small Business

An independently owned and operated company that is limited in size and in revenue depending on the industry.

Market Demands

The total quantity of a product or service that consumers are willing and able to purchase at various price levels at a given time.