Chapter 3 Questions 1-) (Tax Rates) Suppose .docx - Chapter 3 Questions 1(Tax Rates Suppose taxes are related to income level as follows Income Tax

Chapter 3 Questions 1-) (Tax Rates) Suppose .docx - Chapter...

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Chapter 3 Questions 1-) (Tax Rates) Suppose taxes are related to income level as follows: Income Tax $1,000 $200 $2,000 $350 $3,000 $450 a. What percent of income is paid in taxes at each level?
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b. Is the tax rate progressive, proportional, or regressive? 2-) What are the major functions of the government? Briefly discuss. 3-) What are the advantages and disadvantages of forming a corporation? 4-) What are the major sources of the federal government revenue? 5-) What are the major sources of the state revenue? 6-) Please read the article below and answer the question below. The Electronic Cottage
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The Industrial Revolution shifted production from rural cottages to urban factories. But the Information Revolution spawned by the microchip and the Internet has decentralized the acquisition, analysis, and transmission of information. These days, someone who claims to work at a home office is not necessarily referring to corporate headquarters but to a spare bedroom. According to a recent survey, the number of telecommuters has more than doubled in the last decade. Nearly half the white-collar employees at AT&T work at home at least part of the time. Worsening traffic, higher gas prices, wider access to broadband, and even the threat of terrorism are pushing the trend. The average commute is 23 miles, and eliminating that
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  • Fall '16
  • Christopher L. Litten, MA, Ph.D.

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