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UPSC Economics Business and Foreign Trade / व्यापार और विदेश व्यापार Question Bank Fiscal and Monetary Policy

  • question_answer
          Which of the following means rates of tax increase for increasing values or volumes on which the tax is levied
    1. Progressive tax 
    2. Proportional tax
    3. Regressive tax   
    4. Indirect tax

    A) 1 only              

    B)        2 only

    C) 3 only              

    D)        1, 2 and 4

    Correct Answer: A

    Solution :

    Income tax is a progressive tax as it has exemptions for very small incomes, low rates for the first slab of taxable income, and higher rates for the largest incomes


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