Help Save&Exit Submit Suppose an income tax is imposed that takes $1,000 from someone with an income of $20,000; $4,000 from someone with an income of $30,000; and $12,000 from someone with an income of $80,000. This tax would be classified as Multiple Choice regressive. proportional. progressive a flat tax Neg 7 of 8 < Prey 931 PM raw ill Bucation 10/9/2019 De here to search EUS

Q: 1. Suppose the marginal or bracket tax rate for income from $1 to $15,000 is 12%, the marginal tax…

A: A progressive tax is a tax/duty wherein the expense rate increments as the available income/taxable…

Q: a. Define horizontal and vertical equity.   b. Using information from the table below, calculate the…

A: (A) Horizontal equity- Horizontal equity is an economic theory that expresses that people with…

Q: 3er the following hypothetical income tax brackets for a married couple Assume for simplicity there…

A: Income Tax Rate $0-$20,000 10% $20,000-$50,000 20 $50,000-$100,000 35 Over $100,000 50…

Q: 6. Which of the following is not a fiscal instrument: * O Budget O Public expenditure О Тахation All…

A: Answer: 6) Option (d) is correct All are fascal instruments

Q: Write the letter of your choice on the space provided before each number. Thus, A – if only the 1st…

A: Progressive tax system is based on the ability to pay the principle.

Q: Suppose an individual decreases their consumption in a year, resulting in more saving for and…

A: The consumption depends on the income of a person. Therefore, if the income rises then consumption…

Q: b. Ultimately, who pays the majority of the economic burden of the tax is dependent upon O the…

A: The inquiry pose to us to recognize the component that primarily determines who bears the majority…

Q: Thelma's current income is $100,000 and she currently pays $30,000 in income tax.w Any income she…

A: Average tax rate = (Total tax / Total income) Marginal tax rate = (change in tax paid / change in…

Q: 4. Computing and interpreting average tax rates In a hypothetical economy, Dmitri earns $35,000,…

A: The average tax rate for Dmitri, Frances, and Jake, based on the provided tax liability figures, is…

Q: 4. Which of the following taxes satisfy the benefits-received principle, and which satisfy the…

A: benefits-received principle: The benefits-received principle is a principle of taxation that shows…

Q: Discuss the consequence of a rise in direct taxes to the economy as a whole

A: Taxes: The direct tax included the income tax that is levied on the income of an individual. Income…

Q: Suppose that a nation decides to introduce a new income tax system with the tax brackets shown in…

A: Since you have not mentioned the sub-parts you need help with and since we are entitled to answer up…

Q: A tax is O regressive when everybody pays the same amount of tax O regressive when all taxpayers pay…

A: A tax is an obligation to government by residents of a country for consumption and production. It is…

Q: Suppose a tax is such that an individual with an income of $10,000 pays $1,500 of tax, a person with…

A: The tax rate is the percentage of an income or the amount of money that an individual or firm has to…

Q: Assume that in year 1 you pay an average tax rate of 25 percent on a taxable Income of $50,000. In…

A: Marginal tax rate is extra tax paid by the consumer on his incremental or additional income.

Q: According to our discussions, how many rounds of fiscal stimulus have been enacted to mitigate the…

A: Fiscal measures act as a support during economic challenges, preventing downturns and fueling…

Q: 9. An uncapped dollar-for-dollar federal matching grant may be mor efficient than a federal block…

A: Uncapped means not covered as with a cap and matchings grants in the simplest terms are grants that…

Q: Which type of taxation places a higher burden on people that do not make a lot of money? A…

A: Taxation is the imposition of mandatory taxes by governments on persons or corporations. Taxes are…

Q: Mhe marginal propensity to consume is 0.8, the marginal tax rate is 0.2, and the marginal propensity…

A: In the Keynesian macroeconomics model, the equilibrium level of output in the goods market is…

Q: H7

A: As we know tax is one of the major sources of government income, which the government spends on…

Q: explain how government grants may crowd out fundraising by charities and private donations in the…

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Q: What is meant by a progressive tax? A regressive tax? A proportional tax? Comment on the…

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Q: Consider the following hypothetical income tax brackets for a married couple. Assume for simplicity…

A: Tax is the compulsory levy which is imposed by the government. There is no quid pro quo associated…

Q: 10. In the country of Noname, there have historically been no taxes. A new Congress is elected in…

A: Substitution Effect: The change in labor supply due to the change in relative wages (pre-tax wage…

Q: Sue earns $60,000 per year and pays $12,000 in taxes. She gets a raise and now earns $100,000 per…

A: Taxes are compulsory payments to the government without expecting any direct return or benefit.

Q: Exercise I.1 The figure below shows the utility function of a representative individual as a…

A: According to question government must tax 50% of utility for any individual . So , Person with…

Q: Paying a tax of $15 on an income of $200, a tax of $10 on an income of $300, and a tax of $8 on an…

A: the information provided seems contradictory at first glance. While the statement mentions paying a…

Q: Thelma's current income is $100,000 and she currently pays $30,000 in income tax. Any income she…

A: Average tax rate = (Total tax paid / Total income) Marginal tax rate = (Change in tax paid / Change…

Q: Using a hypothetical demand and supply equations explain what would happen if government imposes an…

A: An Indirect tax is an assessment/tax imposed by a governing body, indirectly from the consumer via…

Q: 02. Referring to Fig 2d and the attached table, determine whether average pre-tax income of the top…

A: A theory that describes a tradeoff relationship between tax cuts and tax revenue is the Laffer Curve…

Q: Identify whether each of the following taxes is progressive or regressive and indicate in each case…

A: 1. The Federal Personal Income tax is” progressive, and the incident is on the taxpayer” As income…

Q: ook Refer to the following table for Waxwania: Government Expenditures, G $ 170 Tax Revenues, T Real…

A: Let Y represent the Real GDP. Step 1:a.The marginal tax rate (MTR) is calculated as; MTR…

Q: 3. Does it matter that increased government debt/GDP ratios place a higher tax burden on future…

A: The debt-to-GDP ratio compares a country's government debt to its GDP (GDP). By comparing what a…

Q: Consider the following hypothetical income tax brackets for a married couple. Assume for simplicity…

A: The marginal tax rate is how much extra tax paid for each extra dollar procured as pay. The average…

Q: bly changes the party(ies) to rson in the same economy

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Q: a. A progressive tax is one in which the average tax rate is constant as income increases. O the…

A: " Since you have posted a question with multiple sub-parts, we shall answer the first sub-parts . To…

Q: ssume an MPS of 0.2, an increase in autonomous (lump-sum) tax of $40 would lower income by a. $40 b.…

A: Fiscal Policy has a multiplier effect which implies that change in government spending or taxes will…

Q: Table 12-16 The table below provides information on the 4 households that make up a small economy…

A: Tax is a compulsory financial charge imposed by the government on individuals and businesses. It…

Q: 23. Which of the following is an indirect tax? A tax on company profits consumer goods and services…

A: Tax refers to the payment made by a consumer or producer to the government of a nation. It is used…

Q: The U.S. income tax is currently O progressive O proportional O regressive O proactive a tax.

A: The correct term for the U.S. income tax is "progressive."A progressive tax system is one in which…

Q: Assume a state's general sales tax is 6%; this is an example of a _______________ income tax.

A: Assume a state's general sales tax is 6%; this is an example of a regressive income tax. The correct…

Q: Y S G X-IM 935 -250 320 40 70 2,100 320 140 40 3,220 250 320 200 -150 4,800 375 320 240 -185 5,320…

A: Aggregate expenditure is the sum of consumption ,investment, government spending and net exports in…

Q: 7. The tax imposed to Filipinos in order to generate the n reserve for debt servicing. O Duty Tax O…

A: The tax which is imposed by the Filipinos in order to generate the much needed reserve for debt…

Q: The top 1% of income earners in the U.S. (those with the highest taxable incomes) pay O about the…

A: The tax is a compulsory payment to the government for which nothing is expected in return. The tax…

Q: The distinctive characteristic of a progressive tax is that the dollars paid in taxes rise as income…

A: Tax is a necessary fees or amount that is collected by the government from the public. The amount of…