Which of the Following Tax Systems Would Help Reduce Income

question 37

Multiple Choice

Which of the following tax systems would help reduce income inequality the most?

• A)a regressive tax system
• B)a proportional tax system
• C)a progressive tax system
• D)a consumption tax system

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Definitions:

Mainstream Economic Perspective

Refers to the dominant school of thought in economics that emphasizes rational choice, market equilibrium, and the beneficial role of free markets in allocating resources efficiently.

Voice

A term in industrial relations referring to the ability of employees to express their opinions, grievances, or suggestions, either individually or collectively, within the workplace.

Mainstream Economics

The most widely accepted and practiced theories and models in economics, focusing on market equilibrium, the rational behavior of economic agents, and the efficiency of markets.

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A state where multiple entities offer similar goods or services in the marketplace, striving to achieve greater customer satisfaction and market share.