Match the statements given in the left column with the terms in the right column
ID: 1124168 • Letter: M
Question
Match the statements given in the left column with the terms in the right column 1.The sometimes proposed "lat tax", such as one that takes 10 percent of income at all levels of income, is an example of a(n) 2.A tax that takes a higher percentage of income as income rises 3.The tax rate on the last dollar of income earned. 4.A tax for which the average tax rate decreases as income increases 5.A tax for which the average tax rate increases as income increases a. progressive tax b. regressive tax c. proportional tax d. average tax rate e. excise rate f. efficient tax g. marginal tax rate 0 A. O B. ° C. 0 D. 1 matches with d: 2 matches with a: 3 matches with c; 4 matches with g; 5 matches with f. 1 matches with e; 2 matches with a; 3 matches with d; 4 matches with b; 5 matches with a. 1 matches with c; 2 matches with f; 3 matches with e; 4 matches with b; 5 matches with a. 1 matches with c; 2 matches with a: 3 matches with g; 4 matches with b; 5 matches with a.Explanation / Answer
Answer 1:-
Proportional tax.
Flat tax is a tax system with a constant marginal rate applied to individual or corporate income. A flat tax would be a proportional tax and it is implemented in the form of progressive and regressive types. City income tax is an example of flat tax. Sales tax is a regression tax.
Progressive tax
Tax that takes a larger percentage of higher incomes than lower incomes; justified on the basis of the ability-to-pay principle
Marginal tax rate
A marginal tax rate is the amount of tax paid on an additional dollar of income. The marginal tax rate for an individual will increase as income rises. This method of taxation aims to fairly tax individuals based upon their earnings, with low-income earners being taxed at a lower rate than higher income earners.
Regressive tax
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. "Regressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from high to low, so that the average tax rate exceeds the marginal tax rate.
Progressive tax
A progressive tax is a tax in which the tax rate increases as the taxable amount increases. The term "progressive" refers to the way the tax rate progresses from low to high, with the result that a
So the answer is
D. 1 matches with C, 2 matches with A, 3 Matches with G, 4 matches with b, 5 matches with A.
Answer 2:-
Marginal revenue
In microeconomics, marginal revenue (R') is the additional revenue that will be generated by increasing product sales by one unit. It can also be described as the unit revenue the last item sold has generated for the firm. ... As a result, it will have to lower the price of all units sold to increase sales by 1 unit.
Marginal benefit
A marginal benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service. A person's marginal benefit is the maximum amount he is willing to pay to consume that additional unit of a good or service.
Marginal product
In economics and in particular neoclassical economics, the marginal product or marginal physical product of an input (factor of production) is the change in output resulting from employing one more unit of a particular input (for instance, the change in output when a firm's labor is increased from five to six units)
Marginal factor cost
In microeconomics, the marginal factor cost (MFC) is the increment to total costs paid for a factor of production resulting from a one-unit increase in the amount of the factor employed. It is expressed in currency units per incremental unit of a factor of production (input), such as labor, per unit of time.
Total revenue product of labor
The marginal revenue product theory states that a profit maximizing firm will hire workers up to the point where the marginal revenue product is equal to the wage.
So the answer is D
D. 1 matches with C, 2 matches with G, 3 Matches with A, 4 matches with F, 5 matches with B.