If a tax of $0.90 is imposed, what is the tax revenue?

Q: Economist Arthur Laffer famously pointed out that, in some cases, income tax revenue can actually go…

A: Arthur Laffer is the economist who explain the relationship between tax rates and the revenue…

Q: Which tax system impacts more on the rich people, and why does it impacts them more?

A: Progressive Taxes is the tax system that impacts more on the rich people. Taxes that are assessed…

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: Give two arguments why wealthy taxpayers shouldpay more taxes than poor taxpayers

A: 2 arguments that why wealthy taxpayers should pay more taxes than the poor are as follows: ·…

Q: is it always possible to increase tax revenues by increasing tax rates?

A: Laffer curve represents the relationship between tax rates and tax revenue. It is an inverted U…

Q: Economist Arthur lagger famously pointed out that, in some cases, income tax revenue can actually go…

A: The tax is the unilateral payment made by the people towards the government for various purposes…

Q: Which is wrong? EXPLAIN   a. The government should tax itself. b. The government can tax itself. c.…

A: In an economy, government is the highest ruling authority that runs the economy based on its…

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: Tax incidence usually falls A. only on producers. B. on both consumers and producers. C. only on…

A: Tax incidence is the division the burden of tax falls between producers and consumers. The burden of…

Q: If the government got rid of sales tax, how might this affect the market? shift AD to the right…

A: When the government rid of sales tax, then the price of the goods decreases. Decreasing price leads…

Q: Can you explain how to figure this out? The demand curve moved to the left Showing what the demand…

A: Initially when there were no taxes involved, the equilibrium price which the buyer paid and the…

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: Give an example for the Average Tax Rates?

A: Average tax rate is the tax paid as a percentage of total income. The average tax rate can be…

Q: As government keep raising tax rate (t) on buyers, government will continually collect higher tax…

A: The government influences the amount of discretionary income available to households by raising or…

Q: Over the past century, has the government’s tax revenuegrown more or less slowly than the rest of…

A: Meaning of TAX: A tax is charged by the government compulsorily on an individual or legal entity.…

Q: How do taxation and government spending impact the economy of a country positively in three ways and…

A: Positive impact of taxation Cutting taxes enhance demand by increasing disposable income and…

Q: The graph shows the market for smartphone chargers. Draw a point to show the price of a smartphone…

A: Tax is a measure of cash/money that you need to pay to the public authority so it can pay for public…

Q: Suppose you earn $40,000 per year and pay taxes based on marginal taxX rates. The first tax bracket,…

A: Income tax is that type of tax which is imposed by government on the income of individuals &…

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: 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: EXPLAIN THREE WAYS IN WHICH TAXATION AND GOVERNMENT SPENDING IMPACT THE ECONOMY POSITIVELY AND…

A: Positive impact of taxation Cutting taxes enhance demand by increasing disposable income and…

Q: What is the best policy to implement with regard to taxes?

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: What determines whether the buyer or seller pays the bulk of the tax?

A: The incidence of tax depends on the relative price elasticity of demand and supply.

Q: Discuss the measures that the UK government are taking to mitigate tax avoidance and tax evasion?

A: One sign of tax evasion is the amount of unreported income, which is the difference between the sum…

Q: Government collects the largest percentage of its revenue in which of the following ways?

A: Taxes refer to the monetary payment made to the government of a nation on the purchase or sale of…

Q: How can tax incidences have a positive and negative impact on the economy?

A: Tax incidence refers to the burden of a particular tax that is imposed by the government.

Q: According to the pie chart, which of the following provides the most revenue for the federal…

A: As per the pie chart above, the federal tax revenue is $3.18 trillion and is collected/earned…

Q: What happens to the tax revenue when the tax on a good increase gradually? (a) Will rise (b) Will…

A: Tax Revenue:- Earnings received through profit and revenue taxation, benefit payments, taxes on…

Q: Tax incidence refers to ? A. the average tax rate. B.how much revenue a tax generates. C.the extent…

A: The tax incidence means the division of tax burden between buyers and sellers. It refers to the…

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: if the government doubled the tax on gasoline,can you be sure that revenue from the gasoline tax…

A: A loss of deadweight is an expense to the economy due to market mismanagement, which happens if…

Q: What are the theories and bases of taxation? Explain each. (Please include the references, I really…

A: There are 2 main theories of taxation : The force of tax collection continues upon the hypothesis…

Q: Which of the following statements correctly describes the relationship between the size of the…

A: When the government imposes per unit of tax then the burden of tax is shared by the buyer and seller…

Q: According to the textbook, which of the following statements about taxes in the U.S. is (are)…

A: Taxes are defined as the compulsory charges imposed by the government of the country on individuals…

Q: proportional tax, sometimes referred to as a flat tax, is a kind of income tax wherein all taxpayers…

A: Proportional tax is that the taxing mechanism within which the taxing authority charges constant…

Q: According to the textbook, which of the following statements is (are) correct? (x) As a nation gets…

A: The answer is - (x) only

Q: Whichofthefollowingstatementsis(are)correct? (x)  A payroll tax is a tax on the wages that a firm…

A: A payroll tax is a tax that the firm levies on workers for social security purposes. It is directly…