How do taxes influence the efficiency of resource use? How much does it cost for the government to raise an additional dollar (or $1 billion) of tax revenue?

Q: What happens to a country's economy if there is a high tax for the company that earns more in that…

A: Taxes are the mandatory payments that has to he made to the government.

Q: 6. The Role of Government: Tax and plastic bags A. In the diagram, identify the lines that express…

A: c) The impact of tax depends on the elasticities of demand and supply curves i.e. the responsiveness…

Q: How does Henry George’s proposal for a single tax on land relate to the elasticity of the supply of…

A: Henry George’s proposal for a single tax on land explain that the government can earn sufficient tax…

Q: A government is considering imposing a tax on a market: in Market 1 the tax would have a significant…

A: Correct: Market 1

Q: Why should businesses take into account tax impacts? O a. Taxes directly affect a business's cash…

A: In a market, firms make business activities to earn some revenue and profit due to which it has to…

Q: DIRECTION: Enumerate 5 common public goods and services government provided with the taxes we pay.…

A: Public goods are those that are non-excludable and non-rival in utilization. The public…

Q: Which one of the two policies, a tax on pork meat consumption, or a tax on pork meat production, is…

A: A tax in economics is described as a charge or fee that is levied by the government of a nation on…

Q: From an international perspective, examine the taxation principles of an individual’s personal tax.

A: Capacity to pay:- The capacity-to-pay concept holds that taxes should be based on a person's ability…

Q: 500 700 Q (metric tons) Blood oranges are a tasty fruit with a red-colored flesh. The Italian…

A: Subsidy is the financial support provided by the government in procuring a good or service for a…

Q: What would happen if Texas collects less taxes and generates less revenue?

A: In an economy, it can be seen that the taxes are the major part or component of government revenue.

Q: What are pros and cons to increasing the gasoline tax?

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…

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

A: The equilibrium price and quantity of a good or service is determined by the forces of market demand…

Q: “Because consumers as a group must ultimately pay the total income received by farmers, it makes no…

A: ANS This claim is primarily Incorrect because of two points. They are: First, taxpayers are not…

Q: Is it true, as many people claim, that taxes assessed on producers are passed along to consumers?…

A: Taxes are obligatory contributions levied by a government agency on people or companies. Taxation…

Q: Which of the following is an example of an exemption?

A: Exemptions are mentioned in the law and these exemption reduces the taxable income. Government…

Q: The figure below shows market demand, social demand and market supply. What is the optimal per-unit…

A: "Market equilibrium occurs at a point where market demand intersects market supply. But with…

Q: pu = 50 - 2Q pS = 10 + 1Q Where prices are expressed in cents. How would you modify the equations to…

A: Supply and demand, in economics, relationship between the quantity of a commodity that producers…

Q: Why does the government ass excise taxes to certain products?

A: In a market, government intervenes in different ways by providing subsidies or imposing taxes.

Q: Agricultural price supports result in governments holding large inventories of agricultural…

A: Agricultural price supports is the minimum fixed price which is guaranteed by the government to the…

Q: How does a tax on a good affect the price paid by buyers, price receive by sellers, and the quantity…

A: Tax is a term that defines a charge imposed by the ruling authority, that is government, on market…

Q: List and describe two supply-side policies that could be instituted to encourage more sustainable…

A: Fiscal policy improvements can significantly reduce the cost of achieving sustainability,…

Q: How will the imposition of the government implementing measures to combat climate change impact…

A: In a market, governement intervention refers to the situation when government tries to adjust market…

Q: A $6 per unit tax is introduced into a market summarized by the demand and supply diagram below. The…

A: The equilibrium is established at price 7 $. With 6 $ tax per unit, the selling price will increase…

Q: Which of the following statements about corrective taxes is generally not true? a) Economists…

A: When a commercial activity produces negative externalities, a corrective tax is imposed. The tax is…

Q: Is the following statement true or false? Given is the graph below of the oil market. Without the…

A: Tax: It refers to the income of the government. The more the taxes in an economy the more will be…

Q: Explain the economic effects of price supports. Explicitly include environmental and global impacts…

A: Support instruments have two main effects: they create transfers which reflect changes within the…

Q: How have subsidies contributed to non-sustainable forestry in US and Canada?

A: The subsidies contribute to non-sustainable forestry in the US and Canada due to the direct link of…

Q: Which one of the two policies, a tax on pork meat consumption, or a tax on pork meat production, is…

A: Pork sector of animal husbandry is very unorganized sector. It mostly distributed under small…

Q: Suppose you are planning a summer vacation and book a hotel room online for $149 a night. However,…

A: Tax is an amount of money that is an excess of price charged on the producer or the consumer by the…

Q: The tax on cigarettes in New York City is the higher in the nation--$5.85 per pack.  Does this tax…

A: The tax on cigarettes in New York City is %5.85 that is higher. This tax does not raise a lot of…

Q: A pollution tax: A increases the price of the good taxed. B decreases the price of the good taxed. C…

A: The pollution is a process in which the clean atmosphere is made unclear with the addition of the…

Q: if the governement would like to induce a consumer to consumer a specific level of some good. which…

A: Figure 1 illustrates the impact of subsidy to consumer and the money value of the subsidy.

Q: Market for

A: Tax of 6/unit will raise the supply curve by 6.

Q: Suppose Luke values a scoop of Italian gelato at $4. Leia values a scoop of Italian gelato at $6.…

A: A tax is a unilateral payment made by the public to the government regarding many factors such as…

Q: The Australian government have suggested that they might need to increase GST to help fund the…

A: Tax is a source of revenue for government. Imposition of tax leads to decrease in both demand and…

Q: Soft drink producer's operation in each week produces q liters of mineral water at a cost of aq) =…

A: The optimal q and profits when there is no tax on the producer’s output is;…

Q: Which of the following has a null (0) input tax? O a. Retailer b. Consumer C. Manufacturer O d.…

A: The input tax refers to the Goods and Services Tax paid on the supply of goods and services. The tax…

Q: Suppose before a tax is created, the market price is $10.66 and the quantity is 120.  Now suppose a…

A: Taxes refer to the involuntary fees that are levied by a central or state governing authority…