The largest source of revenue for the federal government is ? A.corporate income taxes. B. the sales tax C. excise taxes D. individual income taxes E. the value added tax

Q: Tax incidence is the division of the burden of a tax between the A. society; seller B. buyer; seller…

A: Tax is a compulsory payment made by the individual, or company to the government as revenue to carry…

Q: A government collects 700B in tax revenue. It allocates $40B to the justice system and $95B for its…

A: The revenue that is collected by the government from property ownership and transfer taxes, income…

Q: 5 The largest source of government revenues is ________.   Select one: a. personal income taxes…

A: The question is asking to identify the largest source of government revenues among the given…

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: The government raises taxes on cigarettes from $1 per to $2 per pack. Prior to the tax increase, 5…

A: (a) Before increase in tax, the tax rate was t0 = $1 and quantity sold was q0 = 5 million packs The…

Q: A tax will be split equally between buyers and sellers when:

A: Taxes are defined as mandatory contributions which are levied on individuals or corporations by the…

Q: The Federal Government brings in revenue through taxation in all of the following forms EXCEPT:   A.…

A: The federal government does not primarily depend on sales and property taxes to generate sales.…

Q: A head tax is a tax that collects the same amount from every tax payer, while in progressive taxes…

A: A head tax, also known as poll tax or capitation, levies a predetermined amount on every person who…

Q: true

A: Cigarette tax is an excise tax  Excuse taxes are specific taxes required on goods and services like…

Q: A regressive tax A. ​imposes a greater burden on those with higher incomes than on those with lower…

A: A regressive tax is the tax based on income.  The regressive tax is inversely proportional to…

Q: A tax that takes a smaller percentage of an individual's income as their income rises is called a a.…

A: Tax are the mandatory charge levied by the government.  There are two types of tax:- direct tax and…

Q: ​A progressive tax is: A. ​designed to take a greater percentage of the income of lower-income…

A: Progressive means the one which increases with it's variable.  This means progressive tax is the tax…

Q: Supply of a good is more elastic than the demand for the good. Who will bear the larger burden of…

A: Taxation refers to per unit tax imposed by the government of the country on some particular goods or…

Q: Income Amount of tax 10,000 1,000 50,000 10,000 100,000.…

A: 1)10% 2)50% 3)30%

Q: What are progressive and proportional forms of taxation? What are the Governments goals when it…

A: Progressive and proportional types of taxation are different processes to levying taxes on people or…

Q: If a tax system is well designed: Select one: a. then efficiency can be improved only by making the…

A: Answer - Need to find - If a tax system is well designed  Evaluating the option - a. then efficiency…

Q: Discuss the objectives of Taxation.

A: Taxation and government spending are component of fiscal policy which is used by the government in…

Q: A new elected government want to reform its tax system. As an economist you are hired to advise the…

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

Q: 8. Explain why each of the following taxes is progressive or regressive. a. $1 per pack federal…

A: A progressive tax is considered in a case whereby there is a more than proportional rise in the tax…

Q: Smoking cigarettes is a leading cause of many diseases. Suppose the government has opened several…

A: The government levies on citizens to generate income for undertaking projects to boost the economic…

Q: 5 The largest source of government revenues is ________.   Select one: a. personal income taxes…

A: The question is asking to identify the largest source of government revenues among the given…

Q: Government collects the largest percentage of its revenue in which of the following ways?

A: Taxes refer to the monetary payment made to the government of a nation on the purchase or sale of…

Q: Price (P) 5z (after tax) S, (before tax) Тах $35 $30 $25 $20 90 100 Quantity (Q) The diagram above…

A: The equilibrium price was at point where S1 is equal to D  = 25 $. With tax, the supply curve shift…

Q: Draw a curve that shows the relationship between the tax rate and the amount of tax revenue…

A: Revenue collection is critical in economics because it provides governments with a significant…