Answer the next question on the basis of the following five schedules,all of which represent income tax schedules for an economy.All figures are in billions of dollars. Which of the above schedules represent(s)a progressive tax?

Question

Answer the next question on the basis of the following five schedules,all of which represent income tax schedules for an economy.All figures are in billions of dollars.  Which of the above schedules represent(s)a progressive tax?

Quizplus · Accepted Answer

A progressive tax system is one where the tax rate increases as the taxable amount increases. Looking at the given schedules, we can see that the tax rate increases as the income increases in schedules III and V. Therefore, options III and V represent a progressive tax system. Option B includes both III and V, making it the correct choice.

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