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Author Question: Only in a progressive tax system does the amount of taxes increase as income increases. Do you agree ... (Read 133 times)

segrsyd

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on: Jun 29, 2018
Only in a progressive tax system does the amount of taxes increase as income increases. Do you agree or disagree? Explain.
 
  What will be an ideal response?

Question 2

A newspaper headline asserts: Rising Demand Pushes Up Housing Prices. This headline
 
  A) incorrectly implies that the demand for housing can change, whereas in fact only the quantity of housing demanded can change.
  B) incorrectly implies that the price of housing will rise when demand increases.
  C) incorrectly implies that more housing will be demanded at higher prices.
  D) correctly implies that an increase in demand will increase the market clearing price.


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tjayeee

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Disagree. In all of the three tax systems (progressive, regressive and proportional), the amount of taxes can increase as income increases. In a progressive system, however, not only the amount of taxes increases but also the percentage income paid in taxes increases as income increases.

Answer to Question 2

D


segrsyd

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Reply 2 on: Jun 29, 2018
Excellent

Mochi

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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