Calculate NIT if indirect tax is $67,000 and subsidies is $42,000?

Q: Define progressive tax.

A: A tax refers to an amount imposed on the person, commodities or any other item to earn revenue for…

Q: What are some examples of goods subject to selective sales taxes?

A: Selective sales taxes are those taxes levied on specific goods and services, instead of on a broad…

Q: Define the term Marginal Tax Rate?

A: Marginal tax rate is the rate at which tax is incurred on an extra dollar of income. In United…

Q: If a profit maximising monopolist faces a market demand curve of P = 10 - Q and produces 3 units of…

A: The marginal revenue product of labor (MRPL) measures the addition to total revenue when an…

Q: What are the three distinct terms to describe taxes?

A: A tax is a unilateral payment made by the people towards the government for various purposes. The…

Q: Outline the advantages and disadvantages of consumer subsidies.

A: Subsidies are privileges granted by the state to individuals or companies in the form of money,…

Q: Discuss the need for, and problems associated with the administration of subsidies

A: A government subsidy is a direct or indirect payment, economic concession, or privilege given to…

Q: What can you say about Tax incidence in the Philippines, who carries the burden more? Give examples…

A: Tax incidence is an economic term for the distribution of tax burden between producers and sellers.…

Q: Figure 2-1 20 rice 18 16 14 12 10 D 10 20 30 40 50 60 70 80 quantity

A: With the tax rate of $6.

Q: what are the ultimate effects to society of shortfalls of tax collection

A: The shortfalls of tax collection lead to a decrease in public spending which leads to a decrease in…

Q: If the market price before the tax is $10.05, the tax implemented is $5.9 on buyers, and the market…

A: The tax is the charge or fee on goods and services charged from the economic agent imposed by the…

Q: Discuss the effects of indirect taxes on producers.

A: Effects of indirect taxes on producers Indirect taxes are the taxes levied on the goods and…

Q: Give a brief conclusion about taxation in Malaysia

A: Malaysia has progressive direct tax system.People with higher income are taxed higher and people…

Q: Social Security and Medicare taxes are the Payroll Tax.    True

A: The Social Security and Medicare taxes are the Payroll Tax.

Q: why is the tax rate 6?

A: A pigouvian tax will be optimal when it is set equal to marginal social pollution cost at the…

Q: What is the equity principle behind benefit-based excise taxes?

A: A tax is a mandatory payment made by individuals and companies to the government based on some…

Q: What are pros and cons to increasing the gasoline tax?

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…

Q: If a tax of $0.90 is imposed, what is the tax revenue?

A:

Q: Find out NIT if indirect tax is $72 and subsidies $40?

A: According to ques we are given that  Indirect tax= $72 Subsidies =$40 we have to find NIT

Q: 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000…

A: Tax is imposed by the government to earn revenue for spending in an economy. Taxes can be classified…

Q: What is the best policy to implement with regard to taxes?

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: What is retrospective tax?

A: Tax is a compulsory payment imposed on the individuals, household and firms. Taxes are generally…

Q: How can tax incidences have a positive and negative impact on the economy?

A: Tax incidence refers to the burden of a particular tax that is imposed by the government.

Q: Why is FICA a regressive tax?

A: Regressive tax: It refers to the tax which has to be paid by everyone. This tax changes with the…

Q: What can you say about Tax incidence in our country, who carries the burden more? Give examples and…

A: Tax incidence The economic cost of a tax is distributed among those who are impacted by it, which is…

Q: How will Effective Tax Structure and Tax Collection help the economy during covid-19

A: Taxes are said to be one of the sources of government, through which the government of a nation runs…

Q: In the diagram to the right, illustrating a per-unit tax equal to P, minus Pa, tax revenue is…

A: Tax revenue = D and F Excess burden = E and G