The Mythical Country of Traviola Imposes a Tax Based on the Number

question 107

Multiple Choice

The mythical country of Traviola imposes a tax based on the number of gold Tokens each taxpayer owns at the end of each year per the following schedule:
​
Traviola's Token tax is a

• A)proportional tax.
• B)regressive tax.
• C)progressive tax.
• D)value-added tax.

---

Definitions:

Health Insurance

Health insurance is a type of insurance coverage that covers the cost of an insured individual's medical and surgical expenses.

Housing Bubble

A period characterized by rapid increases in property valuations based on speculative demand rather than underlying fundamentals, leading to a market correction when the bubble bursts.

Lending Standards

The criteria used by financial institutions to determine the eligibility of borrowers for loans, including creditworthiness and the ability to repay.

Mortgage Interest Deduction

A tax deduction for mortgage interest paid on the first $750,000 of a mortgage debt for a primary or secondary home, aimed at incentivizing homeownership.