1. 4. Consider the following table, whi shows the total amount of taxes paid at different total...
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1. 4. Consider the following table, whi shows the total amount of taxes paid at different total income levels in a society. For ea income level, calculate the effective tax rate. Is this tax system progressive or regressive? Explain.
Total income Total taxes paid
$200,000
$50,000
$100,000
$22,000
$80,000
$16,000
$50,000
$8,000
$40,000
$4,000
$20,000
$1,000
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Related Book For
Macroeconomics In Context
ISBN: 9781032170374
4th Edition
Authors: Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, Mariano Torras
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