(a) Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

Question

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Answer 1

Question

Chapter 7, Problem 6P

To determine

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

(e)

To determine

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

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Students have asked these similar questions

Why does the government ass excise taxes to certain products?

The following is a Table that contains the demand and supply schedules of chocolate ice-creams. Price (cents per ice-cream) $0.90 0.80 0.70 0.60 0.50 0.40 Quantity Demanded (millions per day) 1 asifWNH 2 3 4 5 6 Quantity Supplied (millions per day) 7 6 10 10 5 4 3 2 a) If there is no tax on ice-creams, what is their price and how many are produced and consumed? b) If a tax of $0.20 cents is imposed on every ice-cream consumed, what happens to the price of an ice-cream and the number produced and consumed? Illustrate the effects of this policy on the market for chocolate ice-creams. c) How much tax does the government collect and who pays it?

If the government wants to raise tax revenue, which of the following items are good candidates for an excise tax? Choose one or more: A. toilet paper B. automobile tires C. cigarettes D. sweet potatoes

Answer 2

Question

Chapter 7, Problem 6P

To determine

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

(e)

To determine

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

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Answer 3

Question

Chapter 7, Problem 6P

To determine

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

(e)

To determine

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 7, Problem 6P

To determine

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

(e)

To determine

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

Expert Solution & Answer

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See solution

Answer 5

Chapter 7, Problem 6P

To determine

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

To determine

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

(e)

To determine

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

Answer 6

Chapter 7, Problem 6P

To determine

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

Answer 7

Chapter 7, Problem 6P

To determine

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

Answer 8

To determine

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

Answer 9

To determine

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

Answer 10

To determine

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

Answer 11

To determine

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

Answer 12

To determine

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

Answer 13

To determine

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

Answer 14

(e)

To determine

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

Answer 15

(e)

To determine

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

Ch. 7 - Prob. 1P Ch. 7 - Prob. 2P Ch. 7 - Prob. 3P Ch. 7 - Prob. 4P Ch. 7 - Prob. 5P Ch. 7 - Prob. 6P Ch. 7 - Prob. 7P Ch. 7 - Prob. 8P Ch. 7 - Prob. 9P Ch. 7 - Prob. 10P

(a) Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

Solution Summary: The author explains that tax revenue is collected from various sources like income, profits, goods and services, transfer of property, and other taxes. Taxing on alcohol is a good revenue source.

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

Want to see the full answer?

Chapter 7 Solutions

(a) Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

Solution Summary: The author explains that tax revenue is collected from various sources like income, profits, goods and services, transfer of property, and other taxes. Taxing on alcohol is a good revenue source.

(a) Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

(b) Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

(c) Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

(d) Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.

Whether the grapefruit juice is the good market to tax or not if the motive is to raise the tax revenue.

Want to see the full answer?

Chapter 7 Solutions

(a)

Whether the luxury yachts is the good market to tax or not if the motive is to raise the tax revenue.

(b)

Whether the alcohol is the good market to tax or not if the motive is to raise the tax revenue.

(c)

Whether the movies is the good market to tax or not if the motive is to raise the tax revenue.

(d)

Whether the gasoline is the good market to tax or not if the motive is to raise the tax revenue.