Question
click below
click below
Question
Normal Size Small Size show me how
Economics
Chapter 14 vocab
Question | Answer |
---|---|
Tax | a required payment to a local. state, or national government |
Revenue | the income received from taxes and other nontax sources |
Progressive tax | a tax for which the percentage of income paid in taxes increases as income increases |
Proportional tax | a tax for which the percentage of income paid in taxes remains the same at all income levels |
Regressive tax | a tax for which the percentage of income paid in taxes decreases as income increases |
Tax base | the income, property, good, or service that is subject to a tax |
Individual income tax | a tax based on a person's earnings |
Corporate income tax | |
Property tax | |
Sales tax | |
Incidence of a tax |