In explaining the term camouflage, to a class, the diagram above show four varieties, P, Q, R, and S of the same species of fish living amongst water plants in a river were used.
Which of the varieties is most likely to outlive the others?
P
Q
R
S
Correct answer is B
No explanation has been provided for this answer.
When the value of a nation’s export is greater than its imports
A favourable balance of trade exists
An unfavourable balance of payment exists
The net foreign trade is zero
Inflation occurs
Correct answer is A
No explanation has been provided for this answer.
The theory of comparative cost advantage is associated with
Alfred Marshal
Adam Smith
David Ricardo
J. B. Say
Correct answer is C
No explanation has been provided for this answer.
Government revenue from the groundnut industry is from
Licences
Rents
Royalties
Taxes
Correct answer is D
No explanation has been provided for this answer.
Progressive
Regressive
Proportional
Ad-valorem
Correct answer is A
A progressive tax is a tax in which the average tax rate increases as the taxable amount increases. The term "progressive" refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate.
The term can be applied to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay.
The opposite of a progressive tax is a regressive tax, where the average tax rate or burden decreases as an individual's ability to pay increases.
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