The tax system is used to reduce income inequality through the use of _____ taxes. Select one: a. progressive b. regressive c. efficiency offset d. proportional

Q: Which of the following is not an example of excise tax? * A. Transfer tax B.…

A: Taxes are the compulsory payment made by individuals/firms to the government without having any…

Q: Describe the two basic philosophies of taxation fairness. How are these philosophies evident in the…

A: Tax fairness is a principle that states that a government's tax system should be equal to all…

Q: What is the difference between progressive and regressive tax system?

A: Answer: In the progressive tax system the level of taxes rises with the increase in income, the…

Q: What are progressive and proportional forms of taxation? What are the Governments goals when it…

A: Progressive and proportional types of taxation are different processes to levying taxes on people or…

Q: Describe Progressive taxation. And Regressive taxation

A: Taxation is the process by which a government or other authority collects money from individuals and…

Q: Suppose the market for cigarette is competitive. An economist estimates the price elasticity of…

A: a) The burden would be shared more by the group which is less elastic. This is because they cannot…

Q: A government replaces progressive taxes with regressive taxes. What is the likely outcome?  a.…

A: In an economy, a progressive tax is when higher income tax is imposed on the people with higher…