Which of the following statements is/are ALWAYS true? i A tax is progressive because the tax rate increases as the annual income increases. ii. A tax is progressive because the amount of tax paid increases as the annual income increases. ii. A tax is regressive because the amount of tax paid decreases as the annual income increases. iv. A tax is proportional when the amount of tax paid is constant as the annual income increases. v. A tax is regressive because the tax rate increases as the annual income increases. O a iand i only O b. įi, and i only O c. i and i only Od. įi, ii, iv, v

Which of the following statements is/are ALWAYS true? i A tax is progressive because the tax rate increases as the annual income increases. ii. A tax is progressive because the amount of tax paid increases as the annual income increases. ii. A tax is regressive because the amount of tax paid decreases as the annual income increases. iv. A tax is proportional when the amount of tax paid is constant as the annual income increases. v. A tax is regressive because the tax rate increases as the annual income increases. O a iand i only O b. įi, and i only O c. i and i only Od. įi, ii, iv, v

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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