The main feature of regressive taxation is that its rate
Is higher when income is higher
Is equal tax for all categories of people
Remains constant when income increases
Reduces when income increasesÂ
Correct answer is D
No explanation has been provided for this answer.
A tax on a commodity whose demand is perfectly inelastic will fall heavily on the
Consumer
Manufacturer
Wholesaler
Retailer
Correct answer is A
No explanation has been provided for this answer.
Monopolistic competition
Price determination
Price discrimination
Monopoly
Correct answer is C
No explanation has been provided for this answer.
The demand for a commodity that serves two or more purposes is
Competitive demand
Complementary demand
Composite demand
Derived demand
Correct answer is C
No explanation has been provided for this answer.
The income elasticity of a normal good is
Positive
Negative
Zero
Fixed
Correct answer is A
No explanation has been provided for this answer.