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Firms are taxed on which basis?

AProportional
BProgressive
CRegressive
DLump sum
Answer & Solution
Correct answer: A. Proportional
1. The rate is a set proportion of profits. 2. Firms are taxed proportionally. 3. Personal income tax is progressive. _Source: syllabus Introductory Macroeconomics, Chapter 5, Government Budget and the Economy._
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