Economics · Taxation
Which of the following best describes a progressive tax system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Higher tax rate for corporations than individuals
- 2Tax rate decreases as the taxable amount increases
- 3Uniform tax rate for all income groups
- 4Tax rate increases as the taxable amount increases✓
Correct answer
Tax rate increases as the taxable amount increases
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