The table shows the annual income and annual income tax paid by three households under one government's income-tax system.
| Household | Annual income | Annual income tax paid |
|---|---|---|
| A | £24,000 | £1,200 |
| B | £48,000 | £4,320 |
| C | £96,000 | £11,520 |
Calculate the percentage of annual income paid in tax by each household and explain whether this income-tax system is progressive.
76 exam-style questions on OCR GCSE Economics 3.5 Fiscal policy, covering 3.5.1 Government spending and revenue, 3.5.2 Budget balance, surplus and deficit, 3.5.3 What is fiscal policy, 3.5.4 Calculate effects of taxes and spending, 3.5.5 Analyse effects of taxes and spending, 3.5.6 Costs and benefits of fiscal policy, and 3.5.7 Redistributing income and wealth. Each one has a worked solution and a mark scheme showing where the marks go.