Q: Which of the following is not an example of excise tax? * A. Transfer tax B.…
A: Taxes are the compulsory payment made by individuals/firms to the government without having any…
Q: Which type of goods are the best choice for levying or applying an excise tax? O Gasoline; almost…
A: The best choice for levying or applying an excise tax depends on the government's goals. If the…
Q: According to the figure, what share of the per unit tax on Direct TV programming is paid by the…
A: Equilibrium in the market occurs at the intersection of demand and supply curves where quantity…
Q: Figure #2 price 10 1Daffer tns 10 20 30 40 50 60 70 Refer to Figure#2. Respectively, what are the…
A: The burden of taxes are shared between the buyers and sellers depending on the elasticity of demand…
Q: Explain marginal tax rate.
A: 1-The marginal tax rate is the additional/extra tax rate paid for every additional/extra income…
Q: Certain items, such as gasoline, air travel, hunting equipment, cigarettes, and telecommunications…
A: Tax is the fixed rate of the amount that is charged by the government on a product from the…
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: How would you characterize the tax system? O. Progressive Ob. Regressive O. Proportional Od.…
A: The charge that is being levied on goods and services by the government is known as tax. It is…
Q: Income tax is a a. Local tax b. Special tax c. Tax on persons d. Regressive tax e.…
A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…
Q: Discuss the effects of indirect taxes on producers. min 200 word
A: Indirect taxes are the taxes that are not directly paid by consumers. These taxes are added in the…
Q: The following table shows the amount of tax paid in three countries X, Y and Z. Identify the type of…
A: Tax structure refers to how taxes are levied on individuals or entities based on their income,…
Q: Briefly explain what are direct tax
A: Taxes are categorised as direct and indirect tax based on who shares the final burde of the taxes…
Q: What is the tax liability share for consu
A: Tax liability of consumer is depend on the demand curve elasticity if it is elastic then less burden…
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: What determines how the burden of a tax is dividedbetween buyers and sellers? Why?
A: The tax incidence depends on the price elasticity of supply and demand. Most burden falls on the…
Q: 2. Explain the Structure of the Individual Income Tax in the United States. Give Example.
A: The individual income tax in the united states of america is a modern tax system, that means that…
Q: After the pandemic, if the city of Pasadena increased sales tax by 1% to help pay for some of the…
A: After the pandemic, many cities and regions have been exploring various fiscal measures to support…
Q: Three neighbors share a private dirt road off the main highway that leads to their homes. The Huang…
A: A proportional tax is the rate of tax that remains the same for all the income types of groups.…
Q: If sellers bear more of the burden of taxation then O supply is more elastic than demand O…
A: Tax incidence refers to the distribution of tax burden between buyers and sellers. The burden of the…
Q: The graph illustrates the labor market in a country that does not tax labor income. Suppose that the…
A: Labor market Government introduces a Social security tax of $2 an hour. This will shift the labor…
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: Ans Question 10 Explain how the introduction of the commodity tax T formally paid by market demand…
A: Tax occurrence is the impact a specific tax hosts on the two gatherings of an exchange; the producer…
Q: QUESTION 12 For the US govemment to provide services, t collects reverue trom 1A nly indida in the…
A: Ans 12 The US government collects revenue from Both households and businesses in various forms of…
Q: refer to the graph shown. given the same supply elasticity, the burden of a 10 percent tax would be…
A: The degree to which the amount supplied is responsive to a change in the price of a specific…
Q: The Australian government wants to create a new income tax that collects 10% for all incomes between…
A: Average tax rate is the share of income that a tax payer pay in taxes. The marginal tax rate is the…
Q: Tax System A Marginal Tax Rate Tax Sy Income Range 0- $20,000 $20,001-$40,000 $40,001 - $80,000…
A: Average tax rate is the share of income a tax payer pay in taxes. A taxpayer's marginal tax rate is…
Q: 5. Calculating tax incidence Suppose that the Canadian government decides to charge cola consumers a…
A: In economics, "tax burden" means the total amount of taxes people and businesses need to pay to the…
Q: ty
A: Gini coefficient is used to measure economic inequality the coefficient value ranges in (0 to 1). 0…
Q: Tax revenue of the government includes : (a) Income tax (b) Corporate tax (d) All of these (c)…
A: According to the given question In simple words we can generally said that tax revenue is defined as…
Q: A religious group engaged in the sale of bibles and other religious articles was required to pay…
A: The imposition of tax is mostly valid except in some counties or states where the law states…
Q: Joe earns S15.000 in income and pays S1500 in taves while Jack earns 540.000 and pays S7.500 in…
A: Disclaimer as you posted multiple questions we are supposed to solve the first one only as per…
Q: Total revenue is equal to Select one: O a. price times quantity minus marginal cost. O b. price…
A: 1. Total revenue is the amount earned by selling goods and services. It is calculated by multiplying…
Q: A levy upon liquor, jewelry, tobacco, etc. is called_ a. Occupation tax b. Nuisance tax c. Personal…
A: The government earns revenue through taxation policy. This tax revenue is important for the…
Q: Both a payroll tax and an excise tax on alcoholraise revenue and, respectively, shrink the…
A: Taxes: The taxes are considered as the major source of the revenue of the government and as the…
Q: D
A: Initial equilibrium occurs at the intersection point of demand (D) and supply (S) curve. Hence, the…
Q: the verhcal dslama betwe evw paints A and C upusints a tax m Ku mankeT. lo0ok 900- 800 A 700 600t…
A: The producer surplus before tax can be calculated as follows:
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: who pays the corporate taxes the globel ecomany
A: When there is high tax rate in the economy then the firms respond by lowering the investments and…
Q: Many people consider lump-sum taxes to be unfair to low-income taxpayers. O a. True O b. False
A: Tax is the compulsory payment/fee paid by the individual’s of a nation or country to the government.…
Q: The two largest sources of tax revenue for the U.S. federalgovernmentarea. individual and corporate…
A: Tax revenue is the total amount of money collected by a government through the imposition of taxes…
Q: Price $6.00 $8.00 $10.0 $4.00 $20 18 16- 14 12 10- 8 6- 4- 2 0 10 20 30 40 50 60 70 80 90 Dafter Tax…
A: The demand curve is the downward sloping curve. Supply curve is the upward sloping curve.…
Q: Ezekiel works for a medium sized firm where he advises small businesses about tax planning strategy…
A: Private accountants work for specific companies or organizations and handle internal financial tasks…
Q: The additional tax on top of the standard tax? a. surtax b. EVAT c. corporate tax d. statutory…
A: Taxes are defined as mandatory contributions which are levied on an individual or a corporation by…
Q: QUESTION 12 Figure 6-25 1arice 10 is 6 3. D Datertak 10 20 30 40 s0 60 70 80 quantity Refer to…
A:
Q: Question 33 Do buyers or sellers bear more of the burden of this tax? Group of answer choices…
A: With tax of $6 per unit, quantity sold in market is 20.
Q: With respect to the sources of state tax revenue, the corporate income tax generates approximately…
A: Resource allocation in modern economies relies on a crucial element called taxation. This serves as…
Q: Which of the following is an example of an excise tax? O a) cigarette tax O b) social insurance tax…
A: Excise tax is the tax which consumers don't pay directly to the government. It is an indirect tax.
Step by step
Solved in 4 steps
- Suppose the market for cigarette is competitive. An economist estimates the price elasticity of demand and supply for cigarette are -0.6 and 0.8 respectively. a. Suppose the government imposes a per-unit tax on the cigarette sellers. Who, buyers or sellers, would share a heavier tax burden? Explain your answers without calculation. b. Suppose the government imposes a per-unit tax of $40 on the cigarette sellers. By how much would buyers and sellers of cigarettes share the tax burden respectively? Show your calculation. c. Suppose many small sellers, such as newsstands, complain the heavy tax burden borne by them. Would it be better to these small sellers if the government decides to impose a $20 per-unit tax on both the buyers and the sellers of cigarette? Explain.Typed plzzz And Asap ThanksGiven the demand and supply equations below, show the burden of a 50% tax on the producers. What is the (a) burden, tax revenue? Then replace the % tax with $40 per unit tax. What is the tax burden and tax revenue? 200 I0 120 00 PO GO 20 Qtr 140 IGO I O % tax: burden on consumer burden on producer tax revenue Unit tax: burden on con burden on producer sumer tax revenue Which tax as a consumer do you prefer?
- When a tax is collected from the buyers in a market,. a. the tax burden falls most heavily on the buyersb. the buyers bear the burden of the taxc. the sellers bear the burden of the taxd. the tax burden on the buyers and sellers is the same as an equivalent tax collected from the sellersA shopkeeper sells an article at its marked price OMR 7500 and charges sales-tax at the rane of 12% the customer. If the shopkeeper pays a VAT of OMR 180, the input tax is O a. RO 620 O b. RO 920 Oc RO 720 O d. RO 900 Clear my choiceHello I need help with introducing a per unit tax into this diagram? Also How do I do this,label the quantity, the new buyer (consumer) price and the new seller (producer) price?
- 1 Francesca buys pencils and erasers at 10$ and 9$ per amount. Francesca has an income of 90$. There is a 20% ad valorem tax. a)If Francesca’s utility is U(P, E) = P^(1/3)E^(2) find the ordinary demand without tax imposition. b) If Francesca’s utility is U(P, E) = P^(1/3)E^(2), Please find the ordinary demand with 20% ad valorem tax .Marked out of1.00 When the price elasticity of demand is high and the price elasticity of supply is low, the burden of a tax falls primarily or Select one. a. buyers of the product. b. both buyers and sellers of the product equally C. the tax payers. d. sellers of the product. CLEAR MY CHOICEThe graph shows befire-tax, where the equilibrium is at 25. When the government levies the tax of 30 on X, price consumer have to pay changes to 35, and prince sellers recieve changes to 5. And at Ps:5, quantity is at 10. What is the consumers’ tax incidence and sellers’ tax incidence, when comaparing the chnage in the prices from before-tax equilibrium price 25??
- According to the textbook, which of the following statements about taxes in the U.S. is (are) correct? (x) Tax evasion is illegal, but tax avoidance is legal. (y) Most economists believe that a corporate income tax affects the stockholders of a corporation but not its employees or customers. (z) In practice, the U.S. income tax system is filled with special provisions that alter a family's tax based on its specific circumstances. A. (x), (y) and (z) B. (x) and (y) only C. (x) and (z) only D. (y) and (z) only E. (z) onlyQuestion 29 When a excise tax is placed on the seller of a good: a the buyer is likely to pay a higher price and the seller is likely to receive a lower price from the sale of the good once the tax is considered. b the buyer is likely to pay a higher price and the seller is likely to receive the original price from the sale of the good once the tax is considered. c the buyer is likely to pay the original price and the seller is likely to receive a lower price from the sale of the good once the tax is considered. d the seller is likely to receive a higher price from the sale and the buyer is likely to pay a lower price for the good once the tax is considered.Suppose that your state raises its sales tax from5 percent to 6 percent The state revenue commissionerlo~asts a 20 percent increase in sales tax revenue.Is this plausible? Explain.