Multiple Choice
Which of the following statements is not correct regarding taxes?
A) The largest source of state and local governments tax revenue is sales and excise taxes.
B) The largest source of federal government tax revenue is individual income taxes.
C) A sales tax on food is a regressive tax.
D) A proportional tax is equal to a fixed dollar amount.
Correct Answer:
Verified
Correct Answer:
Verified
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Q11: Exhibit 12-4 Marginal tax rate lines<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg"
Q12: A tax is regressive if it collects
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Q15: Exhibit 12-3 Income for two persons<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg"