The fact that lower-income families will spend a higher percentage of their income on tangible goods that are taxable than higher-income families means that sales tax is what type of taxation system?

Q: Which concept of tax equity, if any, seems to be served by each of the following? The progressive…

A: Equity means fair and just treatment to all.  Tax equity can be two types - 1) horizontal equity -…

Q: Calculate the effects on markets and stakeholders of indirect taxes

A: The economics as a study is based upon the basis of the scarcity of resources in the economy. The…

Q: Which is included in indirect tax? Ca) Excise duty c) Both (a) and (b) (b) Sales tax (d) Wealth tax

A: According to the given question the one which is included in the indirect tax is Option(C) is…

Q: The per-unit tax on a good is the Select one: a. difference between the list price and the actual…

A: Tax can be considered as the contributions made by the public to the government revenue. It is the…

Q: Distinguish between the benefits-received and the ability-to-pay principles of taxation. Which…

A: According to the benefit principle of taxation, those who receive the benefits from government…

Q: Indirect taxes: Definition Explain why governments impose indirect taxes. Distinguish between…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

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: Tax rate rise when the income of the consumer rise in case of progressive tax system.  True/False

A: We have different types of tax system depending upon how the tax rate behaves with change in income.…

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: What are the classification of taxes? And please describe and explain each

A: Taxes are the payment which households made to government of country . It is a compulsory payment…

Q: Suppose the government implemented a negative income tax and used the following formula to compute a…

A: For each taxable case, companies and individuals incur tax  obligations, like getting payments,…

Q: What is the relative importance of taxation to the economy of the country? Discuss clearly the…

A: A tax is a governmental organization's mandatory financial payment or other forms of levy levied on…

Q: The Canadian tax system is often used to achieve various economic objectives, give examples to…

A: In Canada and the United States, administrations of all statuses play an important role. they…

Q: Tax to GDP ratio is a useful index in showing how effective the government is in collecting taxes…

A: Tax is the compulsory payment or a financial charge imposed by government that contributes to the…

Q: Contrast the benefits-received and ability-to-pay principles of taxation. Which of the following…

A: In public economics, the theory of taxation argues that it is imperative for the state to raise…

Q: To raise revenues during the recent recession, the governor of your state proposed the following…

A: Formula:  N(I) = income - (tax rate * income)

Q: Whichofthefollowingstatementsis(are)correct? (x)  A person’s tax liability refers to the amount of…

A: In an economy, government imposes tax on the people based on their income level and this tax is…

Q: Which of the following is not a determinant of the optimal size of governmen The consumer's…

A: Various debates are taken by various economist from time to time to find the optimal size of…

Q: Cite and discuss two importance of taxation. Taxation here covers the levying of taxes by the…

A: Taxes are important for an economy in the sense they generate revenue for the economy. India also…

Q: Define the three principles of sound tax system (Fiscal Adequacy, Equality or Theoretical Justice,…

A: The tax system is defined as a legally regulated system of public relations based on principles that…

Q: Explain the types of tax liability in the Turkish Tax System by giving examples

A: The Turkish tax system is a vital component of the economy, and it is divided into three major…

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

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

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: Question 3 A regressive tax is one where those with higher incomes pay a higher share of taxes out…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: ) the market shown in panel (a) B) the market shown in panel (b)

A: ‘Tax burden’ is also known as ‘tax incidence’. It indicates the division of tax between buyers…

Q: Examine the four different companies in the table, which shows their yearly income and their tax…

A: Regressive tax : The rate of taxation decreases as the income of taxpayers increases. Progressive…

Q: If you would have to pay $5,000 in taxes on $50,000 taxable income and $8,000 in taxes on $60,000…

A: The taxes are the legal proceedings that an individual has to bear out of the income he earns. The…

Q: a. A progressive tax is one in which the average tax rate is constant as income increases. O the…

A: " Since you have posted a question with multiple sub-parts, we shall answer the first sub-parts . To…

Q: discuss in detail what is the importance of dircet taxation and how application of direction…

A: Direct taxes, such as income tax, poll tax, land tax, and personal property tax, are one sort of tax…

Q: Indicate True or False for all: 1. Under proportional taxation, as a person’s taxable income…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

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: The single largest source of revenue for the federal government are corporate income taxes. True or…

A: Taxes, penalties, fees, interest rates, and other sources of government revenue are among them.…

Q: the following information: QD= 240-5P QS= P Where QD is the quantity demand, QS is the quantity…

A: GIVEN,  QD=240-5PQS=P where QD is the quantity demand QS is the quantity supplied govt. imposes $12…

Q: A country is using a proportional tax when Group of answer choices its marginal tax rate equals its…

A: In a market, a government has alternative ways to impose taxes on the participants. The government…

Q: List the main categories of federal revenue and spending and describe the difference between…

A: Apart from maintaining law & order and protecting a nation against external threats (national…

Q: The vertical distance between points A and C represent the amount of the tax. The amount of tax…

A: We have the following information- The vertical distance between points A and C represents the…

Q: Explain the relationship between changes in the economic structure of direct tax revenues!

A: For developing and emerging economies,  a sufficient amount of tax revenues are a necessity for a…

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 =…