Write the letter of your choice on the space provided before each number. Thus, A – if only the 1st statement is CORRECT; B- if only the 2ND statement is CORRECT; C- if both 1st and 2nd statements are CORRECT and D- if both 1st and 2nd statements are INCORRECT. 1. Progressive taxes place a greater burden on those best able to pay. Value added tax is a progressive tax. 2. Proportional taxes are taxes levied at a constant rate. These taxes place an equal burden on the rich, the middle class, and the poor.
Write the letter of your choice on the space provided before each number. Thus, A – if only the 1st statement is CORRECT; B- if only the 2ND statement is CORRECT; C- if both 1st and 2nd statements are CORRECT and D- if both 1st and 2nd statements are INCORRECT. 1. Progressive taxes place a greater burden on those best able to pay. Value added tax is a progressive tax. 2. Proportional taxes are taxes levied at a constant rate. These taxes place an equal burden on the rich, the middle class, and the poor.
Chapter3: Economic Decision Makers
Section: Chapter Questions
Problem 3.10P
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Write the letter of your choice on the space provided before each number. Thus, A – if only the 1st statement is CORRECT; B- if only the 2ND statement is CORRECT; C- if both 1st and 2nd statements are CORRECT and D- if both 1st and 2nd statements are INCORRECT.
1. Progressive taxes place a greater burden on those best able to pay. Value added tax is a progressive tax.
2. Proportional taxes are taxes levied at a constant rate. These taxes place an equal burden on the rich, the middle class, and the poor.
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