The curve labeled III illustrate a system of taxation
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Correct Answer: Option A
Explanation:
A regressive tax falls as incomes increases while progressive tax rises as income increases. Proportional tax is a flat rate while value added tax is the tax imposed on goods and services at each stage of production.
A regressive tax falls as incomes increases while progressive tax rises as income increases. Proportional tax is a flat rate while value added tax is the tax imposed on goods and services at each stage of production.