Q: Match the term with the definition: [?] is the rate you pay on the last dollars you earned…
A: Marginal value is the value from the last unit. Average value is the value per unit.
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: What is the marginal tax rate? Select one: A. Total income divided by total taxes. B. The proportion…
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Q: 1.) Who bears the burden of property taxes ? Explain the incidence of property tax 2.) Who bears the…
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Q: The table below describes three tax systems (A, B, and C) for three income levels. Tax system A Tax…
A: (a) Tax System A:i) Percentage of income= 2,00020,000×100=10%ii) Percentage of…
Q: The two largest sources of tax revenue for theU.S. federal government area. personal and corporate…
A: ANS According to the data available US federal govt. collects about 50% of its tax revenue from…
Q: ose George's income is $10,000 and he pays a tax of $1,000, but Laura's income is $50,000 and she…
A: Tax is referred to financial charge that is compulsory for every individual. Taxation is a term used…
Q: Explain the impact of per-unit sales to the buyer and the seller, using a DIAGRAM that illustrates…
A: When sales tax is imposed on the producer, the production cost of the producer rises because for…
Q: What is direct tax and indirect tax? Give example. How does taxation helps in fiscal development?
A: Direct Tax A direct tax, to put it simply, is one which you pay to the taxing authority directly.…
Q: Answer all the questions! 1. What has been the relationship over the past century between the…
A: The term "government revenue" describes the funds that a government receives from a variety of…
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: The tax system is used to reduce income inequality through the use of taxes. Select one: a.…
A: Tax is the amount that is charged by the government from an individual or an organization on their…
Q: Choose the Letter of the Correct Answer. 1. It is an act of laying a tax. A. Theory of tax B.…
A: NOTE- First three parts has been answered according to Bartleby's answering policy. If you need…
Q: What is the effect of government purchased and taxation on the level of income?
A: KEYS- There are two ways the government can influence fiscal policy: by raising taxes or by cutting…
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: The base Medicare payroll tax (currently 1.45%) is an example of a _______________ income tax. A.…
A: Proportional tax: The tax system that takes the same percentage of income from individuals,…
Q: Write true or false for the following: a.The government modifies the taxation system sometimes…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: An indirect tax is: A. a tax on goods and services that we purchase B. a tax with your name…
A: What is indirect tax.
Q: he following table shows tax payments made for various incomes. According to the information in the…
A: The following problem has been answered as follows:
Q: Define Taxation What is Income tax What is a value-added tax What is Sales tax What is an excise…
A: Taxation is the practice of levying fees on people or entities in order to raise money for the…
Q: 1st statement – The Legislative Department levies the taxes. 2nd statement – The Executive…
A: In an economy, the government is one that has the responsibility to manage different economic,…
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: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to $1 per…
A: In the market for the soft drinks figure, it is identified that the equilibrium is obtained at the…
Q: A tax that takes a smaller percentage of an individual's income as their income rises is called a a.…
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Q: What effect does implementing a progressive tax system have on income inequality in a country? A. It…
A: A progressive tax system is one in which the tax rate increases as the taxable amount increases. It…
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: 1.A progressive tax: A. takes a smaller share of the income of high-income taxpayers than of…
A: “Since you have posted multiple questions, we will provide the solution only to the first question…
Q: Identify whether each of the following taxes is progressive or regressive. a. Personal income tax:…
A: A progressive tax is defined as a tax rate that increases with an increase in the taxable income of…
Q: 3) Are excise taxes, like those on tobacco, gasoline, and alcohol, Progressive, Proportional, or…
A: Regressive tax imposes more burdens on poor households than the rich ones because it is same…
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: What will happen to the amount of taxes collected by the government during a recession when there is…
A: please find the answer below.
Q: Explain the impact of per-unit sales to the buyer and the seller, using a DIAGRAM that illustrates…
A: When sales tax is imposed on the producer, the production cost of the producer rises because for…
Q: A progressive tax system implies that the proportion of income paid to taxes rises as income…
A: A progressive tax is one that is based on the ability of the taxpayer to pay.
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: A payroll tax is an example of a since it taxes the same percentage for all incomes. AProportional…
A: Taxes are the amount that is charged from the consumer. All the goods and services that are used by…
Q: Define individual income tax. A. Individual income tax is the tax an individual pays to the…
A: Meaning of Tax Imposition:The term tax imposition or the tax hike refers to the situation under…
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: A tax that takes a smaller percentage from high-income earners than it does from low-income earners…
A: There are different types taxes, regressive, progressive and proportional
Q: 5. The tax system is used to reduce income inequality through the use of _____ taxes. Select one:…
A: We know that Tax is the amount that is charged by the government from an individual or an…
Q: Use Table A below to complete Table B a. Define a progressive, proportional and regressive tax…
A: The tax is the compulsory payment which is made by the citizens to the government. The tax would…
Q: Income tax is a type of ________ tax. Regressive Progressive
A: A tax called an income tax is imposed on a person's income, which includes earnings, salaries,…
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: The incidence of a tax falls more heavily on: A. Consumers than producers if demand is more…
A: A good's elasticity is defined as how much its quantity demanded changes in response to a change in…
Q: Which type of taxation is set up where everyone pays the same percentage? A Progressive B Regressive…
A: Taxation refers to the process through which a government or taxation body imposes or levies a tax…
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: The largest source of revenue for the federal government is ? A.corporate income taxes. B. the…
A: The largest source of revenue for the federal government is Individual income taxes.
The U.S. federal income tax is an example of a _______________ income tax.
a. regressive
b. progressive
c. proportional
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- A government replaces progressive taxes with regressive taxes. What is the likely outcome? a. Distribution of Income more even; Marginal Tax Rate decrease b. Distribution of Income more uneven; Marginal Tax Rate increase c. Distribution of Income more uneven; Marginal Tax Rate decrease d. Distribution of Income more even; Marginal Tax Rate increase←05 Survey Junkie 17 Gmail C https:/Assign W 2 https://highschools.foolproofonline.info/modules/taxes/board13.php YouTube Maps Dashboard - HMH Ed Okay, more Practice Questions: This is: Identify the type of tax for each example. Example 1: You are charged this tax by the federal government on your yearly pay. O Income Tax. O Sales Tax. O Property Tax. O Excise Tax. This is: Example 2: You own a piece of property and receive a tax bill from the state each year. O Income Tax. O Sales Tax. O Property Tax. O Excise Tax. EN Anglais (ats-Unis) E $ 4 0.6.76 Edmen w foolpro Cc X R 5 T Y & 7 F9 8Tax incidence refers to ? A. the average tax rate. B.how much revenue a tax generates. C.the extent to which a tax is proportional. D. who bears the burden of a tax.
- Match the term to its correct definition. Column A 1. 2. 3. 4. 5. 67 8. a tax for which the percentage of income paid in taxes increases as income increases a tax on the value of a property a tax for which the percentage of income paid in taxes remains the same for all income levels a tax for which the percentage of income paid in taxes decreases as income increases a tax on the dollar value of a good or service being sold a tax on the estate, or total value of the money and property, of a person who has died a tax on the production or sale of a good a tax on a person's earnings % 5 Column B a. progressive tax b. estate tax C. property tax d. regressive tax e. income tax f. excise tax g proportional tax h. es taxSuppose the city of Strelsau has a 10% property tax on rental properties. Rudolph makes $100,000 a year and pays $21,000 per year in rent. Fritz makes $40,000 per year and spends $10,800 in rent. Both Rudolph and Fritz rent from Michael. a. How is Strelsau's property tax best described? Regressive Proportional Incidental Progressive b. Who most likely actually pays the tax on rental property? The renters, Rudolph and Fritz, pay it. The landlord, Micheal, pays it. It is split evenly between the renters and the landlord. The renters and landlord negotiate who will pay it.c. A progressive tax d. A regressive tax QUESTION 3 Corporate profits are a. taxed to pay for Medicare. b. exempt from taxes. c. included in payroll taxes. d. taxed twice, once as profit and once as dividends. QUESTION 4 A value-added tax or VAT is a tax on a. retail purchases only. b. pollution. c. all stages of production of a good. d. wholesale purchases only. QUESTION 5 Table 12-17 INCOME $50,000 100,000 200,000 AMOUNT OF TAX $12,500 (25%) $25,000 (25%) $50,000 (25%) TAX A
- 40. The most efficient tax system has a broad tax base and a low tax rate. A) True B) False 41. Making the income tax more progressive by adding more tax brackets potentially can result in A) stronger economic growth B) a more "equitable" tax C) no effect on equity or economic growth D) slower economic growth 42. The Atlanta city council decides to double taxes on small business in the downtown area to raise more tax revenue to fund more social programs. From an economic growth perspective, why is this a misguided economic policy? A) it is not a bad policy; doubling taxes will automatically double tax revenue B) excessive taxes on business can result in reduced jobs, incomes and business creation because business simply moves to a new government jurisdiction. C) it is not a bad policy; raising taxes will double tax revenue, raise income levels, and encourage business creation. D) excessive taxes will provide more social benefits, so business will tolerate unusually high taxes and stay…Suppose taxes are related to income as follows: Income Taxes $1,000 $200 $2,000 $350 $3,000 $450 a. What percentage of income is paid in taxes at each level? b. Is the tax rate progressive, proportional, or regressive? c. What is the marginal tax rate on the first $1,000 of income? The second $1,000? The third $1,000?3.Define progressive tax.asap
- MACROECONOMICS Progressive Tax Based on your yearly income above, calculate the amount of tax each income bracket would pay under a progressive tax plan. Each row up to the total income amount should be filled in. For an example of a completed chart, go to Page 4 of Lesson 05.03: Sharing with Uncle Sam. Calculate the tax for $95,000. For example, $10,000x40%-%$4,000 in tax. Show your work!! Proposed Regressive Plan Calculate the tax for S25,000. For example, $10,000x40%=$4,000 in tax. Show your work!! 10% on income up to $25,000 20% on income between S25,000 and S34,000 25% on income between S34,000 and S44,000 30% on income between $44,000 and S80,000 40% on taxable income over S80,000 TOTAL TAX PAID (sum of all rows):Which tax system requires higher-income taxpayers to have lower tax rates, even though they pay a larger amount of tax when compared to lower-income taxpayers? a. a proportional tax b. a progressive tax c. a regressive taxWhich tax is good progressive or regressive and which situation? Kindly explain.