A tax is regressive if the

Assessment: WAEC SSCE - Economics - 2011 (Objective) Subject: Economics

Question 1 Report

A tax is regressive if the

Answer Details
A tax is regressive if the rate of tax decreases as income increases. This means that people with lower incomes pay a higher percentage of their income in taxes compared to people with higher incomes. This can lead to a greater burden on low-income households and may exacerbate income inequality.
Read lesson note on The Theory Of Price Determination (JAMB)
Read lesson note on Economic Systems (JAMB)
View Answer

Related Questions

1

A normal demand curve slopes
2

The production possibility curve (PPC) indicates that as more of one good is produced.
3

The difference between the money cost and the real cost of any item is that
4

Palm oil and palm kernel have
5

Human wants are
6

An arrangement of data in rows and columns is referred to as
7

The co-efficient of income elasticity of demand for inferior goods is
8

If a 20% rise in price of Whiskey leads to a 30% increase in quantity demanded of Schnapps, the cross elasticity of demand is

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