The Unique Feature of a Progressive Income Tax Is That

question 67

Multiple Choice

The unique feature of a progressive income tax is that the higher one's income (up to some point) ,the __________ one pays.

• A) more taxes
• B) higher the tax rate
• C) less taxes
• D) lower the tax rate
• E) none of the above

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Definitions:

Midterm Examinations

Exams given roughly halfway through an academic term to assess students' understanding of the course material.

Centered

In statistics, adjusting data values by subtracting the mean of the data set from each value to have an average of zero.

Perfect Substitute

Goods or services that can be used in exactly the same way and are considered interchangeable by the consumer.

Indifference Curve

A graph representing combinations of two goods that provide an individual with the same level of satisfaction and utility.