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The current social security tax by law is set at 6.2% with a wage based limitation of $113,700.
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- There are a variety of taxes that a person pays when buying an airline ticket. One tax is called the LUST fuel tax. LUST stands for leaking underground storage tank. The LUST tax is to establish a trust fund to provide money for oversight and corrective action against owners of leaking underground storage tanks and provides money for cleanup of LUST sites where the owner or operator is unknown. Is it efficient for customers of airlines to beforced to pay the tax?Suppose the Stamp Tax of 1765 imposed a new $0.50 tax per pack of playing cards.By itself, this tax would have caused the after-tax price thatsellers received for cards to not change.buyers paid for cards to rise by $0.50 per pack.All of the above.None of the above.In this problem, p is the price per unit in dollars and q is the number of units.If the demand and supply functions of a product are p = 6500 − 5q − 0.7q2 and p = 500 + 10q + 0.3q2, respectively, find the tax per unit t that will maximize the tax revenue T. t = $ /item
- Lump-Sum Tax The city government is considering two tax proposals: • A lump-sum tax of $300 on each producer of hamburgers. • A tax of $1 per burger, paid by producers of hamburgers. please helpWhat are the possible impacts of increasing the Goods and Services Tax on various stakeholders? in terms of elastic, inelastic products / employment rates / in the long term/ in the short term / etc?When the price is 10 TL for each pack of cookies, the supply is 250 thousand and the demand is 120 thousand boxes. When the price is 9,5 TL for each pack of cookies, the supply is 200 thousand and the demand is 240 thousand boxes. Since the price-demand and supply-demand equations are linear; If a tax is applied at the rate of T=1.25 TL per product sold to the manufacturer, find and interpret the market balance point after tax.
- Refer to Figure 4-4. The per unit burden of the tax on buyers is a. P2 minus P0. b. P2 minus P1. c. P1 minus P0. d. Q1 minus Q0.The efficiency loss of imposing an excise tax is due to: a. Paying a higher price per unit. b. Producing and consuming fewer unitIts is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 + 2P b. If the government then increases the seller's tax on tge product amount of IDR 20/ unit of goods, what is the price and quantity of goods new balance
- Determine government revenue and dead weight loss after tax.A fixed tax on a product implies that the consumer is the one who ends up bearing the full burden of the tax. True or falseA religious group engaged in the sale of bibles and other religious articles was required to pay taxes on thesales of such merchandise. Is the imposition of the tax valid?
