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Author Question: Flat and Proportional TaxesThe table shows the average tax rate for families with different ... (Read 2337 times)

903f23fj0

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on: Nov 23, 2022

Question 1

Regressive vs. Progressive Taxation

The table shows the tax liability for various income levels in the country of Dominica.
Annual IncomeTax Liability
$15,000$6,750​
$30,000$11,400​
$45,000$14,400​
$60,000$17,400​
$75,000$16,500​
What kind of tax does this represent?
◦ progressive
◦ proportional
◦ flat
◦ regressive

Question 2

Flat and Proportional Taxes

The table shows the average tax rate for families with different incomes.
FamilyIncomeAverage Tax Rate
Smith$10,0006%
Martinez $50,00012%
Johnson$100,00018%
Suppose the government switches to a proportional tax of 12%. How will this affect government revenues from the tax?
Please round your final answer to two decimal places.
◦ increases revenues by $5,400
◦ decreases revenues by $5,400
◦ decreases revenues by $8,200.00
◦ increases revenues by $8,200.00
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by 903f23fj0 on Nov 23, 2022

koung719

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Reply #1 on: Nov 23, 2022
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903f23fj0

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Reply 2 on: Nov 23, 2022
Wow, this really help

nathang24

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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