The ________ Was Established by the Texas Constitution of 1876

question 15

Multiple Choice

The ________ was established by the Texas Constitution of 1876 to support the University of Texas and Texas A&M University systems.

• A) Permanent University Fund
• B) West Texas Land Grant Fund
• C) Fund for Higher Education
• D) Higher Education Assistance Fund

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Definitions:

Regressive

Regressive, in economic terms, often refers to a tax system where the tax rate decreases as the taxable amount increases, imposing a greater burden on lower-income individuals.

Marginal Tax Rate

The percentage of an increase in income that is taxed away.

Average Tax Rate

The ratio of the total amount of taxes paid to the total taxable income.

Flat Tax

A tax system with a constant marginal rate, usually applied to individual or corporate income, where everyone pays the same percentage regardless of income level.