Answer the Next Question on the Basis of the Following

question 119

Multiple Choice

Answer the next question on the basis of the following five schedules,all of which represent income tax schedules for an economy.All figures are in billions of dollars. Which of the above schedules represent(s) a progressive tax?

• A) V only
• B) III and V
• C) II and III
• D) III only

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Definitions:

Economic Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

Two-parent Families

Households where children live with both of their biological or adoptive parents, offering a family structure often associated with various social and economic advantages.

Single-parent Families

Households led by only one parent, who takes on the role of both caring for the children and providing for the family financially.

Latchkey Children

Children who return from school to an empty home because their parents or guardians are away at work and thus they carry keys to their homes.