A tax whose burden expressed as a percentage of income, falls as income increases is a ?

Related Mcqs:

1. Imagine there is no tax on income up to Rs 1000 after that there is a tax of 505 what is the average tax rate on an income of Rs 20,000 ?

   A. Rs 50000 B. 20% C. 25% D. Rs 10000...

2. A tax whose burden is the same proportion of income for all households is ?

   A. an equal tax B. a proportional tax C. a progressive tax D. a regressive tax...

3. If the income tax rate changes from 30% to 40% on income over Rs30,000 and a person’s income is Rs 31,000 then her marginal tax rate is ?

   A. 30% B. 10% C. 70% D. 40%...

4. The burden of a tax falls more heavily on the sellers in a market when ?

   A. both supply and demand are elastic B. both supply and demand are inelastic C. demand is inelastic and supply in elastic D. demand is elastic, and supply is inelastic...

5. The burden of a tax falls more heavily on the buyers in a market when ?

   A. both supply and demand are inelastic B. demand is elastic, and supply are inelastic C. both supply and demand are elastic D. demand is inelastic, and supply is elastic...

6. The property tax wealth tax inheritance tax and income taxes such as persona and corporate taxes are ?

   A. indirect taxes B. direct taxes C. inelastic D. value-added tax...

7. A tax placed on a good that is a necessity for consumers will likely generate a tax burden that ?

   A. falls more heavily on sellers B. falls entirely on sellers C. falls more heavily on buyers. D. is evenly distributed between buyers and sellers....

8. If people with higher incomes pay a higher percentage of income in taxes, the income tax structure is ?

   A. progressive B. regressive C. value added taxes (VAT) D. excise taxes...

9. A tax for which high income taxpayers pay a smaller fraction of their income than do low income taxpayers is known as ?

   A. a proportional tax B. a regressive tax C. an equitable tax D. a progressive tax...

10. Refer to Exhibit 4, Suppose that the consumer must choose between buying socks and belts Also suppose that the consumer’s income is €100 Suppose that the price of a pair of socks falls from €5 to €2 The income effect is represented by the movement from point ?

    A. X to point Y B. X to point Z C. Y to point X D. Z to point X...