Author Question: Using the above table, evaluate whether this tax is proportional, regressive or progressive. Show ... (Read 97 times)

joesmith1212

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Using the above table, evaluate whether this tax is proportional, regressive or progressive. Show all work in arriving at your answer.
 
  What will be an ideal response?

Question 2

What is the present value of 960 in one year if the current rate of interest is 6 percent?
 
  A) 676.76 B) 905.66 C) 1,017.60 D) 1,449.46



jomama

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Answer to Question 1

This is a progressive tax. The tax rate rises with income from 5 at 20,000 to 14 at 50,000 .

Answer to Question 2

B



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