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Author Question: Using the above table, evaluate whether this tax is proportional, regressive or progressive. Show ... (Read 29 times)

joesmith1212

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on: Jun 29, 2018
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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Reply #1 on: Jun 29, 2018
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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