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:

Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity of the good that producers are willing to supply.

Buyer's Value

The maximum amount that a buyer is willing to pay for a good or service, reflecting the personal value the buyer attributes to the product.

Seller's Cost

The total expenses incurred by a seller in producing and selling a product, including manufacturing, labor, and material costs.

Tax Per Unit

A fixed amount of tax imposed on a product or service, regardless of its selling price.