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JAMB Economics 2015 Paper
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Question : 46
Total: 70
The curve labeled III illustrate a system of taxation
regressive tax
progressive tax
value added tax
proportional tax
Validate
Solution:
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.
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