You Should Include the Risk of Getting a Parking Ticket

question 69

True/False

You should include the risk of getting a parking ticket in opportunity cost when making a smart choice between parking illegally and buying a parking permit.

---

Definitions:

Regressive Tax

A tax that takes a larger percentage from low-income earners than from high-income earners, considered regressive because it affects those who are less able to pay.

Proportional Tax

A tax system where the tax rate is fixed and the same for all income levels.

Progressive Tax

A taxation system where the tax rate increases as the taxable amount or income of the individual or entity increases.

Benefits-Received Principle

A taxation theory stating that individuals should pay taxes in proportion to the benefits they receive from government services.