economic test

_ 17. John earns $10,000 annually and pays a tax of $200. Mary earns $100,000 during the same period and pays taxes of $800. The tax that they both paid was a tax. a. proportional c. regressive - b. progressive d. marginal 18. The phrase "incidence of a tax\" refers to ' a. benet taxation. . 1:. who will bear the nalburden of taxation. c. upper income groups. (1. self-employed entreprmeurs. 19. One of the most important ways local governments raise revenue is through a. property taxes. c. Social Security contributions. b. driver's license fees. d. college tuitions. _ 20. Intangible property refers to - a. furniture and bank accounts. c. furniture and automobiles. b. stocks and bonds. - d. bank accounts and automobiles. 21. President Reagan believed that high taxes were a. a deterrent to economic growth. c. good for prosperity. b. the cause of economic stability. d. good for busmesses' only. 22. Accelerated depreciation reduces taxes for ' a. individuals: c. college students. b. businesses. d. nonprofit organizations. 23. A tax deduction for the purchase of machinery is called a(n) 3. investment tax credit. c. sales tax. b. alternative tax. d. excise tax. 24. An additional tax levied above the base rate is called a a. customs duty. c. surcharge. b. user fee. d. tax loophole. _ 25. The long-range goal of the Omnibus Act of 1993 was to a. enact a value added tax. c. balance the federal budget. 1:. raise taxes on the top income group. :1. end the recasion