d. the government's budget must be balanced.

Q: 4. What Factors Determine Who Bears the Burden of Taxation?

A: Tax incidence is an approach in which the burden of tax is divided between sellers and buyers.

Q: What does the total revenue represent?a

A: The income generated from normal commercial activities can be demarcated as revenue.

Q: What is tax system? Define and explain in your own words.

A: Taxation is the process by which a taxing authority, usually a government, imposes a financial…

Q: By using graphs, show and explain how an increase in tax rates can increase dead-weight loss…

A: The Laffer Curve theory was developed by the economist Arthur Laffer and it shows the relationship…

Q: he U.S tax system a progressive income tax. What is a progressive tax

A: Revenues are required to smoothly run the government. Government earn major parts of the revenue…

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: On what basis are taxes levied?

A: On the basis of levying of taxes, they can be classified into 3 categories:   Proportional Tax:…

Q: What is total revenue?

A: Revenue refers to that amount which a seller or a person gets after selling its goods and services.…

Q: What are the Revenue projects?

A: Revenue projects are projects that are associated with very low capital investment or no capital…

Q: The largest source of revenue for the federal government is ? A.corporate income taxes. B. the…

A: The largest source of revenue for the federal government is Individual income taxes.

Q: When the government spends tax dollars where does the money come from? What does the government…

A: The taxes paid are used by the government for the better education, investing in technology,…

Q: Tax incidence refers to ? A. the average tax rate. B.how much revenue a tax generates. C.the extent…

A: The tax incidence means the division of tax burden between buyers and sellers. It refers to the…

Q: The tax system is used to reduce income inequality through the use of _____ taxes. Select one: a.…

A: Tax is the amount that is charged by the government from an individual or an organization on their…

Q: five concepts about living expenses and budgeting: Transportation Renting housing Buying housing…

A: Most challenging concept of living expenses and budgeting depends on the individual's circumstances…

Q: oe would you spend national budget

A: All federal spending in the United States is divided into three categories by the Treasury:…

Q: How does unexpected changes in the economy effect the fourth quarter budget of an organization?

A: Budgeting of a corporation is very essential part of the management control process of the company,…

Q: How does tax improve one's health and what are the long term benefit to the economy?

A: Taxation is a financial system employed by governments to raise revenue from individuals,…

Q: What are corrective taxes?

A: Corrective taxes, also known as Pigouvian taxes, are taxes that are designed to correct the effects…