explain why taxation is considered as the lifeblood of the state

Q: Explain marginal tax rate.

A: 1-The marginal tax rate is the additional/extra tax rate paid for every additional/extra income…

Q: Evaluate the following two statements. Do you agree? Why or why not? a. “A tax that has no…

A: Meaning of Tax Imposition:The term tax imposition or the tax hike refers to the situation under…

Q: The government imposes a per-unit tax of 4 sheqles on banana and demand for banana is elastic.…

A: An excise tax is a tax on each unit of a commodity. Consumers and producers share the burden or…

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: State and explain the principles of taxation that would be used in designing and implementing any…

A: A taxation regime plays an important role in the economic development and economic growth of a…

Q: Explain in no less than 4 sentences why Taxation is called the Lifeblood if the Government/State.

A: The charges that are being levied by the government on individuals are known as taxes. They are…

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: Critically examine the principles of taxation and point out the difficulties in their practical…

A: Taxation is an important part of government revenue. Without taxes it is not possible for a…

Q: What are the two aspects of taxation? Explain each. (Please include the references

A: Taxation refers to levying of tax by a government authority. It is done to raise tax revenue. The…

Q: Distinguish between the benefits-received and the ability-to-pay principles of taxation. Which…

A: According to the benefit principle of taxation, those who receive the benefits from government…

Q: Some economists have argued that taxation is one of the causes of economic inefficiency. They claim…

A: There is a mindset believing that reducing the marginal tax would spur the growth of the economy.…

Q: What are the classification of taxes? And please describe and explain each

A: Taxes are the payment which households made to government of country . It is a compulsory payment…

Q: true

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

Q: Explain the inherent limitation that the power of taxation is an inherently legislative function

A: When a taxing agency, generally a government, levies or imposes a financial burden on its residents…

Q: The inverse demand function of chicken wings is p=50- 4g. The supply function of chicken wings is…

A: Given Demand function p = 50 - 4q -------(1) Supply function q = p ---------(2) At market…

Q: What are the characteristics of Taxes, please discuss each,

A: Taxes are the payment made by citizens of country to government of the country and citizens does not…

Q: The fact that lower-income families will spend a higher percentage of their income on tangible goods…

A: Taxation system refers to the way of taxing the income of people by the state government or central…

Q: 22. If the government decide to increase taxes on sugar, who do you think will carry the burden of…

A: As sugar is a necessary, therefore, its demand is inelastic (i.e. with a change in the price of the…

Q: Describe the two basic philosophies of taxation fairness. How are these philosophies evident in the…

A: Tax fairness is a principle that states that a government's tax system should be equal to all…

Q: Name three types of taxes and analyze the deadweight loss of each.

A: Tax is cash that must be paid to the state by individuals. Tax payments were intended to provide for…

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 are the fundamental principles of taxation?

A: Taxation means levying or imposition of particular amount of tax on individuals by the government in…

Q: What is the importance of taxation

A: Taxation is proportional to a person's financial status, encouraging social and economic equality.…

Q: Explain the types of tax liability in the Turkish Tax System by giving examples

A: The Turkish tax system is a vital component of the economy, and it is divided into three major…

Q: Why is taxation considered as the strongest among the three inherent powers of the State?

A: The government has three powers, which are functioned by only government authorities. They are…

Q: In the market for therbligs, the supply curve is Ps=$10+$0.05Qs  and the market demand curve is…

A: Demand Equation: P=20-0.10Qd Supply equation : P=10+0.05Qs Equilibrium:  0-0.10Qd=10+0.05Qs Demand…

Q: Using a hypothetical demand and supply equations explain what would happen if government imposes an…

A: An Indirect tax is an assessment/tax imposed by a governing body, indirectly from the consumer via…

Q: The federal government currently uses many forms of taxation, both direct and indirect, to raise…

A: Direct taxes are taxes that are imposed on natural persons and they are based on the taxpayer’s…

Q: Suppose the government of Country X would like to reduce traffic congestion by imposing a per-unit…

A: Tax causes the supply curve to shift left, thus reducing the quantity and increasing the prices.

Q: Discuss how a government might use taxation to affect the distribution of income

A: In an economy, the inequality of income distribution can be explained by the situation when a richer…

Q: Discuss the effects of direct taxes on consumer behavior.

A: Direct taxes are those taxes which are payable on the income of an individual or entity. Income tax,…

Q: Explain and expound why taxation is unavoidable in any state be it rich or poor. Supply facts to…

A: GDP. or the gross domestic product is the value of all the final goods and services which are newly…

Q: What is the marginal tax rate on a lump-sum tax?How is this related to the efficiency of the tax?

A: A lump-sum tax refers to a tax which is based on a fixed amount. It involves paying a fixed amount…

Q: Could you please explain in brief  why taxation is considered as the lifeblood of the state.

A: The nations tend to work with the goal to achieve the maximum possible level of growth. There are…

Q: Define Situs of Taxation.

A: Situs of taxation virtually means place of taxation the overall rule is that the taxing power cannot…

Q: talk in detailed about more than 4 importance of taxation

A: Residents are taxed concerning their financial conditions, in this way reassuring social and…

Q: What are the characteristics of Taxation? Discuss each briefly. (Please include the references, I…

A: Public finance is a subpart of economics that studies the expenditure and revenues of the public…

Q: Which of the following is an example of a progressive tax?a. The excise tax on cigarettesb. The…

A: OPTION C - Federal Personal Income Tax A progressive tax is a tax where the tax burden increases…

Q: The single largest source of revenue for the federal government are corporate income taxes. True or…

A: Taxes, penalties, fees, interest rates, and other sources of government revenue are among them.…

Q: of a given activity. c) Economists refer to the revenue collected as a result of a tax as the burden…

A: In an economy, economists think that there are different types of tax burden when government imposes…

Q: Explain how corporate profits are taxed twice

A: Taxes refer to the fees that is charged by the government on various entities of the economy. The…

Q: What is the subject of Corporate Tax? Who has to pay corporate tax? Please provide detailed…

A: Corporate tax is a form of tax that applies to all businesses. It is a tax levied on a company's…

Q: The demand and supply equations for a product are: Qd = 300 - 6P and Qs = -40 + 6P. Determine the…

A: Market equilibrium is achieved at the point where the demand and supply curve intersects, i.e the…

Q: USes a tax of S0.60 per soft drink purchased. The price paid by the consumer becomes = b) Refer to…

A: Imposition of tax on goods sold decreases supply of the good.

Q: Why is the burden of a tax to taxpayers greater thanthe revenue received by the government?

A: Tax Burden is a proportion of the taxation rate forced by government. It incorporates direct…

Q: List the main categories of federal revenue and spending and describe the difference between…

A: Apart from maintaining law & order and protecting a nation against external threats (national…

Q: nich among the following is a direct tax? [A] Excise Duty [B] Sales Tax [C] VAT [D] Income Tax

A: According to the given question the direct tax is Option(d) is correct that is the income tax Reason…