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What type of tax strategy makes consumer pay higher tax rate as income increases?
A progressive tax strategy.
In which strategy the consumer pays a higher tax rate as income increases?
progressive tax [novanet]
What is a progressive tax strategy?
it is tha strategy that governs tax increases proportionally with taxable income. the higher your taxable income the higher tax percentage you will pay.
A type of taxation in which people and businesses with higher income pay higher taxes is known as .?
A type of taxation in which people and businesses with higher income pay higher taxes is known as progressive taxation. In this system, the tax rate increases as the taxable amount increases, meaning that those with greater financial means contribute a larger percentage of their income compared to those with lower incomes. This approach aims to reduce income inequality and provide funding for public services.
What tax strategy makes you pay a higher tax rate as income increases?
This is called a graduated or progressive income tax.
What is the tax stratagy where the consumer pays a higher tax rate as income increases?
a "progressive tax" A "progressive" tax system. == ==
What is the difference between direct and indirect taxation?
Direct taxation is when you tax the consumerIndirect is when you tax the merchantbecause the item being taxed would go from merchant>>>consumerthe merchant make his price higher because the consumer doesnt have to pay tax but he does.
A type of taxation in which people and businesses with higher income pay higher taxes is know as what?
This type of taxation is known as progressive taxation. In a progressive tax system, the tax rate increases as the taxable income rises, meaning that individuals and businesses with higher incomes pay a larger percentage of their income in taxes compared to those with lower incomes. This approach aims to reduce income inequality and provide funding for public services and social programs.
What is the difference between normal goods and inferior goods in terms of consumer demand behavior?
Normal goods are products for which demand increases as consumer income rises, while inferior goods are products for which demand decreases as consumer income rises. In other words, normal goods are considered higher quality or more desirable as income increases, while inferior goods are seen as lower quality or less desirable as income increases.
Why does total utility increase as the consumer moves to indifference curved further from the origin?
Total utility increases as a consumer moves to indifference curves further from the origin because these curves represent higher levels of consumption of goods. Each curve reflects a combination of goods that provides the consumer with a greater level of satisfaction or happiness. As one moves to higher indifference curves, the quantity of at least one good increases, allowing for a more optimal allocation of resources that maximizes overall utility. Thus, the further away from the origin, the higher the total utility.
What is one drawback to consumer-protection regulations?
Higher costs for production, leading to higher consumer prices.
What is an inferior good and how does its status as a product impact consumer behavior and market demand?
An inferior good is a product for which demand decreases when consumer income increases. This is because consumers tend to switch to higher-quality goods as their income rises, leading to a decrease in demand for inferior goods. As a result, the demand for inferior goods is inversely related to consumer income levels.
