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The government must raise tax revenue to pay for schools, police, etc. To do this, it can either tax groceries or meals at fancy restaurants. bilesio • Which should it tax?

The government must raise tax revenue to pay for schools, police, etc. To do this, it can either tax groceries or meals at fancy restaurants. bilesio • Which should it tax?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Can you explain how to figure out which would produce the largest tax revenue? Groceries are inelastic and restaurant dining is elastic. Is there a way for me to figure this out using a graph?
### Active Learning 3: Discussion Question The government must raise tax revenue to pay for schools, police, etc. To do this, it can either tax groceries or meals at fancy restaurants. - **Which should it tax?** **Explanation:** - This activity involves a discussion on the potential options for the government to increase its revenue through taxes. It poses a question about which items to tax in order to fund essential public services, such as education and law enforcement. - The question encourages learners to consider the implications of taxing essential items like groceries versus luxury items such as meals at fancy restaurants. This question is designed to foster critical thinking and debate on fiscal policy and its impact on different segments of the population.
Transcribed Image Text:### Active Learning 3: Discussion Question The government must raise tax revenue to pay for schools, police, etc. To do this, it can either tax groceries or meals at fancy restaurants. - **Which should it tax?** **Explanation:** - This activity involves a discussion on the potential options for the government to increase its revenue through taxes. It poses a question about which items to tax in order to fund essential public services, such as education and law enforcement. - The question encourages learners to consider the implications of taxing essential items like groceries versus luxury items such as meals at fancy restaurants. This question is designed to foster critical thinking and debate on fiscal policy and its impact on different segments of the population.
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