proportional tax refers to

Assessment: WAEC SSCE - Economics - 1999 (Objective) Subject: Economics

Question 1 Report

proportional tax refers to
Answer Details
A proportional tax refers to a tax system where the tax rate remains the same regardless of the income level of the taxpayer. In other words, everyone pays the same percentage of their income as tax. For example, if the tax rate is 10%, then someone who earns $10,000 will pay $1,000 in taxes while someone who earns $100,000 will pay $10,000 in taxes. Therefore, the tax rate is proportional to the income level.
Read lesson note on Economics As A Science (JAMB)
View Answer

Related Questions

1

The money payment made to owners of land and labour are
2

The system whereby goods are exchanged for goods is known as
3

every society strive to pursue all the following economic objectives except
4

The graph of the function X = a + bY is
5

which of the following best describes capital as a factor of production?
6

Productivity , per worker, is best measured by
7

In determining cost economics considers
8

The price elasticity of coefficient indicates

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning