The following graph shows the daily market for jeans. Suppose the government institutes a tax of $11.60 per pair. This places a wedge between the price buyers pay and the price sellers receive. 50 45 40 Supply 35 30 Tax Wedge 25 20 15 10 Demand 10 20 30 40 50 60 70 80 90 100 PRICE (Dollars per pair)

Q: What is the difference between evading and avoiding a tax obligation?

A: Tax evasion is a criminal offence in which a person or company knowingly avoids paying their true…

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: With the help of appropriate diagrams, explain how a tax can be used to reduce the consumption of a…

A: Tax are contribution to goverment which are levied on individual as well as or a firm which are…

Q: a. What is the equilibrium price buyers pay directly to the sellers? b. After paying the tax, what…

A: Set demand relatively inelastic such that the X intercept of the demand curve is 6 (this corresponds…

Q: Draw a product supply and demand graph showing a ceiling and a floor as usually created by a…

A: An individual’s willingness to pay for each unit of the quantity he or she wishes to consume is…

Q: The govemment is considering imposing taxes on the sellers of certain classes of products. The first…

A: Meaning of Tax Imposition:The term tax imposition or the tax hike refers to the situation under…

Q: Explain three different types of taxes imposed in the United States including the reason for its…

A: Following are the three types of tax imposed in the United States: Progressive Regressive…

Q: If the government increases alcohol taxation how will it affect consumption?

A: Taxes are the amount levied on goods which increases the price of good making the consumers to pay…

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: ATA C Price e. C. PB Po Ps L ABI C 1 0 Size of tax per unit Ō w₂₁ LL Qo Supply If a tax is placed on…

A: The diagram shows a market for a product with supply and demand curves, and a tax is being forced.…

Q: The graph shows the market for backpacks. Price (dollars per backpack) 22 20+ 18- 16- 14- 12+ 10- S…

A: Equilibrium is a state where supply and demand are balanced, ultimately leading to a stable market…

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: From an international perspective, examine the taxation principles of an individual’s personal tax.

A: Capacity to pay:- The capacity-to-pay concept holds that taxes should be based on a person's ability…

Q: What if any are the effects of taxation on a normal profit

A: The profit is the excess revenue made by the firm after deducting the total cost of production from…

Q: Diffrentiate between direct tax and indirect tax

A: Tax is compulsory payments which is made to government, There is no direct quid pro quo. or taxpayer…

Q: What is the nature of Taxation?

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

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: Discuss the 5 properties of a good tax system

A: A tax system is a bunch of regulations and guidelines that oversee the assortment of taxes from…

Q: Analyze the factors that affect the demand for residential renting with examples

A: There are various factors that increase or decrease a demand for a particular good or service.

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: Why does the government ass excise taxes to certain products?

A: In a market, government intervenes in different ways by providing subsidies or imposing taxes.

Q: Many cities have experienced a substantial decrease in the amount of garbage being collected after…

A: Many communities have changed the way their garbage is collected, moving away from fixed taxes on…

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: Which of the markets is the best market to tax? P P a. ان D S P Q S D Q P b. S d. D D a S Q

A: Elasticity in economics refers to the responsiveness of demand or supply to changes in price or…

Q: you were a landlord, why would you be against rent control? Explain your

A: Equilibrium is achieved at the output level where Qs equals Qd.

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: How does a tax on a good affect the price paid bybuyers, the price received by sellers, and the…

A: A tax is a monetary charge that is applied to a good or service. The tax will have the effect of…

Q: What constitutes trading according to tax law

A: Trading involves healthy participation in the financial markets in comparison to investing which…

Q: Draw diagram to show what happen when government subsidised the gasolene

A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity…

Q: Using what you have learned about price floors and the information in the articles, decide whether…

A: Labor economics is the study of how individuals, businesses, and public officials make employment…

Q: Choose one of the following examples and explain whether you think that the government should ban…

A: Banning any product is not the ultimate solution to any of the issue because it will create a…

Q: Is it fair to give farmers lower interest rates on loans because they are farmers?

A: Interest rates on loans affect the farmers directly. Higher the rate of interest more will be the…

Q: Why is tax necessary for the government? Substantiate your answer in 2 paragraphs

A: A country is controlled by it's government

Q: benefits of subsidies

A: A subsidy is an incentive given by the government to individuals or businesses in the form of cash,…

Q: What is the difference between evading and avoiding a tax obligation?

A: Tax avoidance is a legal method of reducing one's tax liability. Taxpayers can benefits over time,…

Q: What is retrospective tax?

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

Q: on buyers, as shown in the figure. According to the figure, the government raises $[value] in tax…

A: Sales tax is a consumption tax imposed by the government on the sale of goods and services. It is…