Illustrate what distortions do you think would appear

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Q. Assume a special tax was introduced that used value of one's automobile as tax base. Each person would pay taxes equal to 10 percent of value of his or her car. Would tax be proportional, regressive, or progressive? Illustrate what assumptions do you make in answering this question? Illustrate what distortions do you think would appear in economy if such a tax were introduced?"

Reference no: EM1367893

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