The curve labelled W shows the
...Use the graph above to answer the question
The curve labelled W shows the
Regressive tax
Proportional tax
Specific tax
Progressive tax
Correct answer is D
A progressive tax is a tax system in which the tax rate increases as the amount of taxable income increases. This means that people with higher incomes pay a higher percentage of their income in taxes than people with lower incomes.
The curve labeled W shows that the tax rate increases as the amount of taxable income increases. This is the defining characteristic of a progressive tax system.
Similar Questions
Which of the following is an important function of prices in a market economy? ...
In the diagram III refers to the calculation of national income through the ...
Which of the following categories of people do not gain during inflation? ...
In estimating the national income of a country, the three approaches usually adopted are the ...
The Economic Commission for Africa is an agency of the ...
The basic purpose of imposing legal reserve requirements on commercial bank is to ...
The necessary condition for a firm to be in equilibrium is that marginal revenue is ...
Which of the following crops can be referred to as Nigeria’s current export crops? ...
An improvement in technology will enable the country to produce at ...