of 30000$ The income tax in the country X is proportional and equals 2% The income tax in the country Y is as follows: The households wh

Q: 1. Suppose the marginal or bracket tax rate for income from $1 to $15,000 is 12%, the marginal tax…

A: A progressive tax is a tax/duty wherein the expense rate increments as the available income/taxable…

Q: Suppose the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on…

A: Tax rate:For first 10,000=0%10000-30000=10%30000-50000=20%50000-80000=30%80000 and above=40%

Q: ose George's income is $10,000 and he pays a tax of $1,000, but Laura's income is $50,000 and she…

A: Tax is referred to financial charge that is compulsory for every individual. Taxation is a term used…

Q: The FICA tax is levied on employers, employees, and certain self-employed individuals. Revenue goes…

A: As given in the question, the contribution to the retirement part tax was 6.2 percent of first…

Q: Which of the following is a significant revenue source for state and local governments, but not the…

A: Taxes are the amount charged by the government for the services provided and are the means of…

Q: What is the difference between Direct and Indirect tax?

A: The nations around the world have various decision making, and the policy making authorities, who…

Q: The nation of Upstandia uses kroner for money and its tax code is such that a person making 100,000…

A: There three main tax systems in an economy – Proportional Tax, Progressive Tax and Regressive Tax.…

Q: Discuss the consequence of a rise in direct taxes to the economy as a whole

A: Taxes: The direct tax included the income tax that is levied on the income of an individual. Income…

Q: Suppose that a nation decides to introduce a new income tax system with the tax brackets shown in…

A: Under progressive tax system higher income people pay higher taxes. Average tax rate is used to…

Q: Complete the following table by deriving the marginal tax rates in the income ranges of $20,000 to…

A: Marginal tax rate and average tax rate formula can be written as follows:

Q: What is the difference between an expenditure (cash-flow) tax and a sales tax? What is the…

A: Tax: It refers to the income of the government. The taxes are the income that people will pay…

Q: What kind of system does the U.S currently employ?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: he following table shows tax payments made for various incomes. According to the information in the…

A: The following problem has been answered as follows:

Q: Which of the following is an indirect tax? 1. Capital Gains Tax 2. Excise Duty 3. Wealth Tax 4.…

A: A direct tax is one that is paid directly to the institution that imposed it. Individual taxpayers,…

Q: What is meant by a progressive tax? A regressive tax? A proportional tax? Comment on the…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per…

Q: 3)  Are excise taxes, like those on tobacco, gasoline, and alcohol, Progressive, Proportional, or…

A: Regressive tax imposes more burdens on poor households than the rich ones because it is same…

Q: Exercise I.1 The figure below shows the utility function of a representative individual as a…

A: According to question government must tax 50% of utility for any individual . So , Person with…

Q: 5. The tax system is used to reduce income inequality through the use of _____ taxes. Select one:…

A: We know that Tax is the amount that is charged by the government from an individual or an…

Q: Suppose in Fiscalville there is a 5 percent tax on the first $10,000 of income, but there is a 15…

A: The average tax rate is the total amount of tax divided by total income.

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

A: Direct tax is the tax that is directly paid to the government by the individual or an organization…

Q: 23. Which of the following is an indirect tax? A tax on company profits consumer goods and services…

A: Tax refers to the payment made by a consumer or producer to the government of a nation. It is used…

Q: There are two individuals in a society. The federal income tax in this society is such that that the…

A: Progressive taxation means the tax rate is lower for low-income groups and higher for high-income…

Q: Consider the following categories of taxes: I. wealth tax II. consumption tax III. Direct tax…

A: Note- We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Within the context of taxation policy, many economists have preferred the use of consumption tax to…

A: The income tax is the tax that is levied on the income of the people directly. It is collected,…

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: There are two individuals in a society. The federal income tax in this society is such that that the…

A: A progressive tax is one that is based on the ability of the taxpayer to pay.

Q: Question 11 simultaneous 50 billion dollar increase in both government and taxation would have O no…

A: The rise in government expenditure has multiplier effects on GDP. The Rise in the expenditure causes…

Q: 4. Computing and interpreting average tax rates In a hypothetical economy, Clancy earns $11,000,…

A: When all taxable sources of income are combined together and divided by the amount of taxes payable,…

Q: 10. Which of the following best describes government revenue? a) Government programs designed to…

A: Government of a nation needs money to finance its spending.  Government has two sources of…

Q: 4.7) Consider a national income tax that is structured as follows: Income Marginal tax rate…

A: d.The tax is the unilateral payment that the individuals should make to the government for various…

Q: (ii) Suppose Country B is similar to Country A in the amount of government expenditures and the…

A: There two points to note about the tax revenue of country B : 1 .) Tax revenue balances the budget…

Q: Suppose in Fiscalville there is a 5 percent tax on the first $10,000 of income, but there is a 15…

A:

Q: Suppose a tax is such that an individual with an income of $10,000 pays $2,000 of tax, a person with…

A: Taxes is the compulsory payment levied on the citizens by the government. The tax is said to be…