Is TAX a burden or a blessing (beneficial) in the Philippines? Justify

Q: What are cannons of taxation?

A: The administrative components of a tax are referred to as canons of taxation. They have to do with…

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: If you are a member of Congress who is concerned about too much price inflation in the economy, you…

A: Inflation refers to the increase in general price level. Very high inflation creates uncertainty in…

Q: QD = 240-5p QS = P Where QD is the quantity demanded, Qs is the quantity supplied and P is the…

A: Tax imposed on sellers would result in seller get less amount that what the buyer pays. The buyers…

Q: Define the term Marginal Tax Rate?

A: Marginal tax rate is the rate at which tax is incurred on an extra dollar of income. In United…

Q: When the price elasticity of supply is relative to the price elasticity of demand, then sellers bear…

A: Since you have posted multiple independent questions in the same request, we will solve the first…

Q: Giving reasons classify the following into direct and indirect tax (1) Wealth tax (2) Value…

A: # Taxes can be broadly classified into two segments which are direct tax and indirect tax. as the…

Q: Explain three different types of taxes imposed in the United States including the reason for its…

A: Following are the three types of tax imposed in the United States: Progressive Regressive…

Q: What can you say about Tax incidence in the Philippines, who carries the burden more? Give examples…

A: Tax incidence is an economic term for the distribution of tax burden between producers and sellers.…

Q: what are the ultimate effects to society of shortfalls of tax collection

A: The shortfalls of tax collection lead to a decrease in public spending which leads to a decrease in…

Q: In the United States, payroll taxes are essentially assessed evenly between workers and firms.…

A: Labor supply refers to the supply of labor in the market who are ready to do the job at the given…

Q: If the market price before the tax is $10.05, the tax implemented is $5.9 on buyers, and the market…

A: The tax is the charge or fee on goods and services charged from the economic agent imposed by the…

Q: When the income tax was first proposed in 1894, it was ruled unconstitutional? True or false

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

Q: What is the condition of tax incidence in the Philippines, who carries the burden more? Give…

A: The distribution of a tax's economic burden among the affected parties is known as tax incidence. It…

Q: Is it possible to be used partly for public purpose and partly private purpose without violating the…

A: When a taxing body, typically a government, levies or imposes a financial responsibility on its…

Q: What is merits and demerits of direct tax?

A: A tax is described as one that the government imposes on citizens who participate in the economy in…

Q: Why do you oppose the taxation of purchasing NFTs? Infoslide: An NFT, which stands for non-fungible…

A: A digital asset that depicts real-world elements like as art, music, in-game items, and films is…

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: Identify the link of necessity and luxury goods to tax revenue

A: Tax Revenue refers to the income earned by the government through taxation. Tax revenue produces a…

Q: What can you say about Tax incidence in our country, who carries the burden more? Give examples and…

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

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

A:

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: Using demand curve approach, explain how a commodity tax incurs excess burden

A: In a market, tax burden refers to the additional cost bear by the market participant when government…

Q: True or false the burden of of the tax falls on the party who actually pays the money for the tax to…

A: Taxes are an important government policy instrument that is used to collect revenue from the public…

Q: Applying John Rawls’ theory of justice in taxation, do you think that it is fair for some taxpayers…

A: A degressive expense is one in which rates are level yet exclusions or travelers are permitted,…

Q: Is digital taxation feasible in Africa?

A: Africa has made adjustments to utilize unconventional digital means to replace every day physical…

Q: suppose demand is given by q d(p)=1-p and supply q s(p)=p with prices in dollars.if buyers pay a 10…

A: Given information; Quantity demanded: qd(p)=1-p Quantity supplied: qs(p)=p Tax on buyer= 10 cent

Q: Given the following information QD = 240-5p QS = P Where QD is the quantity demanded, Qs is the…

A: Equilibrium is achieved where quantity supplied equals quantity demanded.

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: 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: When the price elasticity of supply is relative to the price elasticity of demand, then sellers bear…

A: The tax burden is higher on the party that is inelastic towards the price of the good because they…

Q: When the absolute value of price elasticity of demand is greater than the absolute value of price of…

A: The customers will bear a larger fraction of the tax imposed if the demand (dd) is going to remain…

Q: Accordingtothetextbook,whichofthefollowingstatementsis(are)correct? (x)  When a taxpayer attempts…

A: Taxation refers to the compulsory charge which the citizens of the country have to pay to the…

Q: How does elasticity affect the burden of a tax? Justify your answer using supply and demand…

A: The economic effect of taxation are manifold. This include micro effect on distribution of income…

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: 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: What can you say about Tax incidence in our country, who carries the burden more? Give examples and…

A: Tax incidence The economic cost of a tax is distributed among those who are impacted by it, which is…

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…

Q: If the government imposes a $5 excise tax on the production of wine, then from the perspective of…

A: Consider a liner supply function P=a+bQ         .... (1)

Q: Given the following information QD = 240 – 5P QS = P Where QD is the quantity demanded, Qs is the…

A:

Q: In the diagram to the right, illustrating a per-unit tax equal to P, minus Pa, tax revenue is…

A: Tax revenue = D and F Excess burden = E and G

Q: Are taxation policies more effective than education policies, in reducing cigarette smoking in…

A: Education policies are based on behavioral aspect of humans ie they sought to bring a behavioral…