Explain three different types of taxes imposed in the United States including the reason for its existence.

Q: What is Double Taxation?

A: Taxation refes to a system of levying taxes on individuals or firms in the economy. Taxes are a…

Q: What happens to a country's economy if there is a high tax for the company that earns more in that…

A: Taxes are the mandatory payments that has to he made to the government.

Q: Price PA A B E a The tax in the graph is equal to Q₂ Q₂ St D Sy Q Quantity

A: A  demand curve depicts the relationship between the price of a good and the services and the demand…

Q: The tax on cigarettes in New York City is one of the highest in the nation—$5.85 per pack. What are…

A: Tax is a mandatory unilateral or one way payment made by the public towards the government in the…

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: 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: What will the federal government do to taxes?

A: The federal government uses fiscal policy as a tool to achieve economic stability.This involves…

Q: Where does our taxes goes? What are the things that the government do to our taxes? Who are those…

A: As economies emerged, economic agents increased their demand for goods and services. Production of…

Q: The following graph shows the daily market for jeans. Suppose the government institutes a tax of…

A: In a free market the price and quantity is determined by the forces of demand and supply. The point…

Q: How can the government improve tax collections without imposing much tax to the consumer?

A: When a taxing body, typically a government, levies or imposes a financial responsibility on its…

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: he Philip

A: The new tax reform is considered to be a good news for low-income and middle-income earners of the…

Q: What is the nature of Taxation?

A: Government and private sector balance the functioning of economy. With public and private sector,…

Q: Analyze taxes on tobacco through the perspective of: a. a smoker b. a cigarette firm

A: In an economy, when taxes are imposed on buyers or sellers, there will be different impact due to…

Q: explain four reason why is tax important for a country

A: Tax is the unilateral payment made by the people towards the government for the income earned by the…

Q: How important is tax in a government?

A: A tax refers to a compulsory financial fee or some other type of levy imposed on a taxpayer by a…

Q: What are the fundamental principles of taxation?

A: Taxation means levying or imposition of particular amount of tax on individuals by the government in…

Q: what the meaning of tax?

A: Tax is a compulsory contribution to the state's revenue that is levied by the government of each…

Q: What determines whether the buyer or seller pays the bulk of the tax?

A: The incidence of tax depends on the relative price elasticity of demand and supply.

Q: In choosing what type of tax to use, what factors does government take into consideration?

A: In choosing the type of tax to use, the Government should consider all the 4 options:

Q: What is the tax burden on the buyer and seller?

A: It can be said after analyzing the above graph (demand curve falls) that the government had imposed…

Q: do taxes generate the revenue?

A: Revenue: It refers to the extra benefits that a business can earn. These extra benefits will help…