Asked by
AMIRIAH HOLMES
on Oct 13, 2024Verified
An average tax rate of 1% on the poor and 20% on the rich would be
A) progressive.
B) proportional.
C) regressive.
Average Tax Rate
The fraction of total income that is paid in taxes, calculated by dividing the total tax paid by the total income.
Progressive
Referring to ideas, policies, or efforts that aim to instigate change or reform towards better conditions in society.
Proportional
Proportional pertains to a relationship or ratio where changes in one quantity correspond directly with changes in another.
- Familiarize yourself with the assorted types of taxes including proportional, progressive, and regressive, and understand their impacts.
Verified Answer
GF
Learning Objectives
- Familiarize yourself with the assorted types of taxes including proportional, progressive, and regressive, and understand their impacts.