Help Save&Exit Submit Suppose an income tax is imposed that takes $1,000 from someone with an income of $20,000; $4,000 from someone with an income of $30,000; and $12,000 from someone with an income of $80,000. This tax would be classified as Multiple Choice regressive. proportional. progressive a flat tax Neg 7 of 8 < Prey 931 PM raw ill Bucation 10/9/2019 De here to search EUS

Q: 1. Suppose the marginal or bracket tax rate for income from $1 to $15,000 is 12%, the marginal tax…

A: A progressive tax is a tax/duty wherein the expense rate increments as the available income/taxable…

Q: 50 40 30 20 10 0 20 40 60 80 Tax Rate (%) 100 According to this Laffer curve, should the government…

A: Economics is a social science that studies how individuals, businesses, governments, and societies…

Q: Three neighbors share a private dirt road off the main highway that leads to their homes. The Huang…

A: A proportional tax is the rate of tax that remains the same for all the income types of groups.…

Q: b. Ultimately, who pays the majority of the economic burden of the tax is dependent upon O the…

A: The inquiry pose to us to recognize the component that primarily determines who bears the majority…

Q: Thelma's current income is $100,000 and she currently pays $30,000 in income tax.w Any income she…

A: Average tax rate = (Total tax / Total income) Marginal tax rate = (change in tax paid / change in…

Q: 4.7) Consider a national income tax that is structured as follows: Income Marginal tax rate…

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Q: 4. Computing and interpreting average tax rates In a hypothetical economy, Dmitri earns $35,000,…

A: The average tax rate for Dmitri, Frances, and Jake, based on the provided tax liability figures, is…

Q: 4. Which of the following taxes satisfy the benefits-received principle, and which satisfy the…

A: benefits-received principle: The benefits-received principle is a principle of taxation that shows…

Q: Match the tax Oxamplo wth the tax structure Rat Tx on stato Residonts Stateh r nd coe Ta TPC 3. 3.…

A: Taxes are a significant and biggest kind of revenue for the public authority. The public authority…

Q: Suppose that a nation decides to introduce a new income tax system with the tax brackets shown in…

A: Since you have not mentioned the sub-parts you need help with and since we are entitled to answer up…

Q: The fact that lower-income families will spend a higher percentage of their income on tangible goods…

A: Taxation system refers to the way of taxing the income of people by the state government or central…

Q: Tax Bracket :  0-$20,000 = 10% $20,001-$60,000 = 15%  $60,001-$100,000 = 35%…

A: Given information: Income between $ 0 to $20,000 is taxed at 10%   ------------&gt; first tax slab…

Q: Assuming a $7 per unit tax is imposed, in calculating the realative burdent of the tax does it…

A: Government imposed a tax of $7, it will decrease the supply and shifts it to the left by the amount…

Q: Sue earns $60,000 per year and pays $12,000 in taxes. She gets a raise and now earns $100,000 per…

A: Taxes are compulsory payments to the government without expecting any direct return or benefit.

Q: Paying a tax of $15 on an income of $200, a tax of $10 on an income of $300, and a tax of $8 on an…

A: the information provided seems contradictory at first glance. While the statement mentions paying a…

Q: 02. Referring to Fig 2d and the attached table, determine whether average pre-tax income of the top…

A: A theory that describes a tradeoff relationship between tax cuts and tax revenue is the Laffer Curve…

Q: y currently earns $50,000 in taxable income and pays $8,000 in taxes Suppose that indy faces a…

A: It can be defined as a source of income for the government of the country. It is represented as a…

Q: 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000…

A: Tax is imposed by the government to earn revenue for spending in an economy. Taxes can be classified…

Q: Income range Tax rate $15,000 and below 5% 8% $15,001-$30,000 $30,001-$60,000 12% $60,001-$120,000…

A: The meaning of marginal is one additional unit. Marginal tax rate is the percentage of tax that is…

Q: a. A progressive tax is one in which the average tax rate is constant as income increases. O the…

A: " Since you have posted a question with multiple sub-parts, we shall answer the first sub-parts . To…

Q: Table 12-16 The table below provides information on the 4 households that make up a small economy…

A: Tax is a compulsory financial charge imposed by the government on individuals and businesses. It…