« previous next »

Author Question: Suppose Jill has earned more income this year as compared to what she did last year. Her income tax ... (Read 174 times)

EY67

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
Suppose Jill has earned more income this year as compared to what she did last year. Her income tax has also increased. Does it necessarily mean that the income tax system is progressive? Explain.
 
  What will be an ideal response?

Question 2

Suppose you observe that the price of a good increases and that the quantity of this good sold also increases. If only the demand curve or the supply curve shifts this suggests that
 
  A) supply increased over time while demand remained the same.
  B) supply decreased over time while demand remained the same.
  C) demand increased over time while supply remained the same.
  D) demand decreased over time while supply remained the same.


Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

No, the amount of income tax can increase as income increases in any of the three tax systems (regressive, progressive, and proportional). However, in a progressive tax system, the tax rate (not the tax amount) increases as income increases.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Pulmonary function test: spirometry. (a) Normal respiratory volumes, as measured during spirometry. Pulmonary function test: spirometry. (a) Normal respiratory volumes, as measured during spirometry.
W-2 form issued to employees at the end of the year. W-2 form issued to employees at the end of the year.
Planet Earth compared to all its water and air! Planet Earth compared to all its water and air!
Estimated number of new HIV infections per year over time period in Canada Estimated number of new HIV infections per year over time period in Canada
You deposit $2000 each year into an account earning 4% interest compounded annually. How much ... You deposit $2000 each year into an account earning 4% interest compounded annually. How much ...
Innate and Adaptive Immunity Compared Innate and Adaptive Immunity Compared
Video: The Vestibular System

For a complete list of videos, visit our video library