Elucidate distortions do you think would appear

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Reference no: EM1352198

Suppose a special tax was introduced that used the value of ones automobile as the tax base. Each person would pay taxes equal to pay 10% of the value of the car his or her car. Would the tax be regressive, progressive or proportional. What assumptions do you make answering this question? What distortions do you think would appear in the economy if such a tax were introduced?

Reference no: EM1352198

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