Q: 10) For optimal tax, which of the following rules are true? A) Broad base rule: Better to tax a wide…
A: Optimal taxation theory aims to find the tax system that will achieve the desired revenue and income…
Q: Which curve shifts and in which direction when the following events occur in the tax accounting…
A: a) Answer:- Demand increases. Explanation:- On tax day, ever more individual are going to look to…
Q: a. According to the benefits-received principle of taxation, O the higher one's income, the higher…
A: In an economy, government taxation has a significant impact on the behavior of the people and the…
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: Which of the following is true in the United States? O A. Only state governments can collect taxes.…
A: Tax is the compulsory payment to the government and it is the main source of government revenue.…
Q: The market demand for rose is QD = 2400–60P and the market supply for rose is QS= –600 +40P.…
A: Demand shows the ability and willingness of a person to buy a good. Supply shows the willingness and…
Q: Explain briefly the three main purposes in exercising taxation power.
A: Taxation is defined as the power of accumulation of revenue and raiserevenue from the people to…
Q: Net taxes are taxes paid minus O A. subsidies O B. consumption expenditure of households O C.…
A: Taxes are the duties imposed by the government and subsidies are some kind of monetary assistance or…
Q: Tax expenditures are: O a. expenditures made to collect taxes. b. losses in revenue due to tax…
A: Inflation has a profound affect on the economy, it reduces purchasing power of the consumer, affects…
Q: (c) From now on, suppose p income tax on Bunter's total income, what should the income tax rater be?…
A: Utility function shows the relationship between utility derived and the goods consumed. Utility is…
Q: QUESTION 3 Tax is a source of revenue to the government. The imposition of tax by the government is…
A: (a) National income = C+I+G yd= I-Tyd=$10-$20yd= -$10 millionY=C+I+GY=20+0.9(-10)…
Q: Suppose the demand for cigarettes is Q = 15 - 0.5Pand the supply of cigarettes is Q = P - 3, where P…
A: Equilibrium is achieved at the output level where Qs equals Qd
Q: ) What type of taxation does a Sole proprietorship have? Single or double B) What type of taxation…
A: Answer is given below
Q: What is excise tax? value added tax? price floors and price ceilings?
A: A government intervenes and regulates a market using various policies to influence market…
Q: Imposition of new taxes levied on goods and services will tend to remain constant remains the same…
A: The demand curve shows the relationship between price and quantity demanded of goods and services.…
Q: Read the following and answer question? ‘Exit tax’ to hit South Africans looking to emigrate from…
A: *Answer: Keynesian economics propose government intervention when there is a positive or negative…
Q: Mhe marginal propensity to consume is 0.8, the marginal tax rate is 0.2, and the marginal propensity…
A: In the Keynesian macroeconomics model, the equilibrium level of output in the goods market is…
Q: The market demand for a product is Q = 290 - 7P, and the market supply is Q = -90 + 12P (where Q is…
A: Answer- "Thank you for submitting the question. But ,we are authorized to solve only 3 sun parts…
Q: (a) “Anticipated technological improvements will reduce the size of bequests that parents leave to…
A: Since you have asked a multipart question and according to our policy we can only solve the first 3…
Q: A $3 tax on fruits and vegetables would be more effective at increasing tax revenue if the supply of…
A: Taxes are compulsory contributions imposed on individuals or corporations by a government entity,…
Q: Identify whether each of the following taxes is progressive or regressive and indicate in each case…
A: 1. The Federal Personal Income tax is” progressive, and the incident is on the taxpayer” As income…
Q: If the burden of a tax on sugary drinks is borne mostly by consumers, it must be the case that: a)…
A: The demand curve of a good shows the quantity demanded of a good at various possible price levels…
Q: uppose demand is represented by P = 100 - 2Q, and supply is represented by P = 5 + 3Q. If the…
A: Given Demand equation: P=100-2Q .... (1) Supply equation: P=5+3Q .... (2)…
Q: Suppose that a per-unit tax of 25 centavos per pack is placed on the sale of cigarettes by the…
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Q: Who gets most of the burden of the tax when demand condition is D1 and what is the tax burden? *…
A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Which of the following statement is true about tax? A. The burden shared by consumers and producers…
A: Answer: Correct option: option (D) Explanation: When a tax is levied either on the buyer or seller,…
Q: The market demand for steel is QD = 240–6P and the market supply for steel is QS= –60 +4P.…
A: In a competitive market, there exists a large number of buyers and sellers of the good in the…
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: Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 +…
A: Answering only part c: Demand: P = 24 - 1/2Q Q = 4 + 2P P= Q/2-2 Equilibrium: Q=22 units, P= IDR13…
Q: Which of the following is the most correct statemeht ab burdens? A tax burden is distributed…
A: The correct answer here would have been :- A tax burden falls most heavily on the side of the market…
Q: Figure 4-11 LAFFER CURVE 100 в Tax Revenue Refer to Figure 4-11. On the Laffer curve shown, tax…
A: The Laffer curve illustrates the relationship between the tax rate imposed by the government and the…
Q: A tax in a supply and demand model will: O Transfer surplus from the government to consumers. O…
A:
Q: draw a AD/ AS diagram to show the effect of raising and increasing intrest, icome tax, corporate tax…
A: Aggregate demand and aggregate supply determine the price and output level in the goods market .
Q: 9. Which of the following is the most correct statement about tax burdens? а. A tax burden falls…
A: Price elasticity of demand refers to percentage change in quantity demanded with respect to…
Q: Tax incidence is O A. the potential division of the burden of a tax between buyers and government in…
A: In a market, when government imposes tax on any of the market participants, this tax will have two…
Q: Suppose a tax is such that an individual with an income of $10,000 pays $2,500 of tax, a person with…
A: The effect of taxes on incentives to raise, save, or spend is calculated by average tax rates, while…
Q: If a lump-sum income tax of $35 billion is levied and the MPS is 0.2, the consumption schedule will…
A: The aggregate demand is the sum of the components of the aggregate demand which is the sum of the…
Q: f a $6 per unit excise (sales) tax is imposed, who will suffer the greater burden of this tax, the…
A: From the graph, The demand curve passes through (0, 26) and (8,18) and the supply curve passes…
Q: Consider the following tax structure: Income Bracket Marginal Tax Rate - $6,000 $6,000 $25,000 $0 -…
A: Answer; a. Tax = $ 29,800 b. Average Tax Rate = 33.11% c. Highest marginal Tax Rate =…
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- A deferred tax valuation allowance account is used to recognize a reduction in: O income tax expense. O both a deferred tax asset and deferred tax liability. O a deferred tax liability only. O a deferred tax asset only.Q.1.2 Company tax is a: (a) Progressive, direct tax;(b) Progressive, indirect tax;(c) Proportional direct tax;(d) Regressive indirect taxthe personal income tax rate is 31%, the dividend income tax rate is 12% and the corporate tax rate is 20 %, what is the effective tax advantage of debt? (The answer can be positive or negative.)
- Qd = 240 - 5p Qs = P Where Qd is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose the government impose a tax of $12 per unit on sellers in the market. Determine; The consumer surplus before and after tax and the producers surplus before and after tax.If a lump-sum income tax of $35 billion is levied and the MPS is 0.2, the consumption schedule will shift Multiple Choice downward by $28 billion. upward by $28 billion. downward by $35 billion. downward by $7 billion.Both the federal government and individual colleges typically use needs analysis, which considers available income and assets, to determine eligibility for financial aid. Consider a simplified version of needs analysis in which grant aid is awarded in the following manner: - Line A: Total adjusted gross income as reported on income tax form - Line B: Supplement from assets, equal to 0.2 × assets per year - Expected Family Contribution (EFC):0.35 × [Line A + Line B] - Aid Rule: Grant = max(0,$15,000 − EFC) a. What are the maximum levels of income (assuming zero assets) and assets (assuming zero income) at which an individual could be expected to receive financial aid?
- Federal alcohol excise taxes are designed so that the alcohol content of beer and wine is taxed at a much lower rate than the alcohol content of distilled spirits. A: True B: FalseQd = 240 - 5p Qs = P Where Qd is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose the government impose a tax of $12 per unit on sellers in the market. Determine; the tax revenue, deadweight loss and total after tax39. Assuming a $7 per unit tax is imposed, in calculating the realative burdent of the tax does it matter whether the government is collecting the tax directly from sellers or from buyers? YES NO
- In the year 2021, a corporation made $18.2 Million in revenue, $2.4 Million of operating expenses, and depreciation expenses of $6.2 Million. The state income tax rate is 9% and the federal income tax rate is 21%. How much (a) state income tax, and (b) federal income tax will this corporation pay in this tax year? Assume that the state income tax is a tax-deductable expence when filing federal income tax. The approximate state income tax is $ Million (Round to three decimal places.) The approximate federal tax is $ Million. (Round to three decimal places.) The combined effective income tax rate is enter your response here %. (Round to the nearest decimal.) The ATCF for the year 2021 is $ Million . (Round to three decimal places.)Determine the single-value effective tax rate for a corporation that has a federal tax rate of 35% and state tax rate of 7%.Consider the following tax system: Tax Brackets Marginal Tax Rates 1 0 – 50,000 10% 2 50,000 – 100,000 15% 3 100,000 – 150,000 18% 4 150,000 – 200,000 25% 5 200,000 – 250,000 30% 6 250,000 + 33% Assume that a business executive receives a gross monthly salary of $225,000. i) Calculate the average and marginal tax rates that he/she has to pay. ii) If the NIS, NHT and education tax amounts due at the end of November are $3,125.00, $5,600.08, and $5,040.35 respectively, what amount in net income (after-tax income) should the business executive expect to see on his pay stub. iii) Advise the Minister on the potential benefit of eliminating progressive taxation
