Answer:
b) The progressive income tax system
Explanation:
The tax is compulsory contribution levied by the authority in a territory on goods, services, income and profit.
Proportional income tax :Income tax is said to be proportional where the same tax rate is paid by all irrespective of their income bracket.
A progressive income tax is that where the tax rate becomes higher for those income earners in the high income bracket. The tax rates on every dollar earned becomes higher with increase in income.
The regressive income tax is where a lower percentage is paid as tax as the income income increases. Lower rate is paid on additional dollar earned.
The scenario in the question falls under the concept of progressive income tax system
Reduction in the price. If they do not reduce the price, then people will not buy the product, and they will be left with too many of the same products.
Answer:
Explanation:
Mean can simply be define as the average of a set of numbers.
$400 and $3,800 per year is spends on all types of insurance.
A= 400
B= $3,800
Using the formula:
u = a+b/2
=$400 +$3,800/ 2
=$4,200 /2
=$2,100
Therefore the mean amount spent on the insurance is $2,100
33,000 - 4,300 equals 28,700.
28,700 + 3,300 equals 32,000.
32,000 + 5,300 equals 37,300
37,300 units in year-end inventory
A tax on purchases, also Called sales tax
