Exemption of food purchases from a sales tax reduces, Ask an Expert

Finance

Exemption of food purchases from a sales tax reduces regressively because:

a. the percent of income spent on food generally falls as family income is higher.

b. total food purchases decline as income rises.

c. low income families spend more money on food than do high income families.

d. food exemption does not reduce regressively.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91559325

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