Economics of Taxation

Economics of Taxation

12th Grade

8 Qs

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Economics of Taxation

Economics of Taxation

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Aaron Gomez

Used 30+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Synonym of equity

Fairness

Unfairness

stock market

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the main source of the government revenue?

Taxation

Charity

Foreign investment

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an income tax?

Percentage of the individual’s income, which goes to the government

Percentage we pay when we buy goods and services which are not essential

The percentage we have to pay for the good we take with us from abroad

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When the tax rate increases as income increases, the tax is called

progressive

situational

proportional

regressive

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When the tax rate decreases as income increases, the tax is called

proportional

progressive

regressive

retrogressive

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When people pay the same percentage regardless of income it is

a progressive tax

a proportional tax

a regressive tax

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The United States federal income tax operates on a marginal tax rate

True

False

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is currently the lowest marginal tax rate in the United states

5%

10%

13%

15%