Which is the most ideal tax because it is the most efficient? *       Progressive tax       Income tax       Lump sum tax       None

Q: Income tax is a a. Local tax b. Special tax c. Tax on persons d. Regressive tax e.…

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: The value added tax (VAT) is an example of a tax: Response option group a) Regressive b)…

A: (Q) The value-added tax (VAT) is an example of a tax:Response option group a) Regressive b)…

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: 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: The incidence of a tax pertains to:         the degree to which it alters the distribution of…

A: Taxation is the duties levy by states of mandatory levies on persons or organizations. In nearly…

Q: 6.) Government intervention arises from market failure and often includes which of the following?…

A: When individuals acting in their own best interests generate a less-than-optimal or economically…

Q: An example of an indirect tax is: (a) income tax. example of an indirect tax is:         (b)…

A: Answer in Step 2 As bartleby guidelines i only have to answer only one MCQs

Q: 10. Understanding marginal and average tax rates Using the information provided on the income tax…

A: A marginal tax rate is an increase in tax liability with an increase in per-unit income. The…

Q: The U.S. income tax is an example of a tax. Select one: a. constant b. progressive C. proportional…

A: A progressive tax system is such in which taxes increase in greater proportions as income increases.…

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: Define the three types of taxes (Proportional tax, Progressive tax, Regressive tax)

A:

Q: Income Amount of tax 10,000 2,000 50,000 10,000 100,000 20,000…

A: 1)20% 2)20% 3)20%

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: 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: 10. Understanding marginal and average tax rates Using the information provided on the income tax…

A: The marginal tax rate is the additional tax income due to a change in tax liability. The marginal…

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: Amount of Tax Due Income Tax Schedule Tax Schedule Tax Schedule Tax Schedule A D $50,000 $10,000…

A: In a market, differ types of tax system are used for different commodities. A regressive tax is one…

Q: Which tax is the largest source of tax revenue in the United States? personal income taxes…

A: The largest source of the tax revenue of the United States government has individual tax been since…

Q: A progressive tax system implies that the proportion of income paid to taxes rises as income…

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

Q: A regressive tax is a tax that requires people with people with lower incomes. incomes to pay a…

A: Progressive and regressive are two of different types of tax.

Q: Income Amount of tax 10,000 1,000 50,000 10,000 100,000.…

A: 1)10% 2)50% 3)30%

Q: Calculate the property tax rate required to meet the budgetary demands of the community. Note: When…

A: Property tax is the tax levied on immovable or tangible properties such as land and buildings. The…

Q: Define individual income tax. A. Individual income tax is the tax an individual pays to the…

A: Meaning of Tax Imposition:The term tax imposition or the tax hike refers to the situation under…

Q: A tax that takes a smaller percentage from high-income earners than it does from low-income earners…

A: There are different types taxes, regressive, progressive and proportional

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: 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: The marginal tax rate is equal to :the change in the tax payment divided by the change in income.…

A: Taxes are the legal proceedings that are applied and imposed by a country’s government over the…

Q: Assume a state's general sales tax is 6%; this is an example of a _______________ income tax.

A: Assume a state's general sales tax is 6%; this is an example of a regressive income tax. The correct…

Q: Which of the following is true of indirect business taxes? a) They are included in corporate…

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

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: The largest source of revenue for the federal government is ? A.corporate income taxes. B. the…

A: The largest source of revenue for the federal government is Individual income taxes.

Q: progressive tax system tax rate rise with rise in income True/False

A: Answer. Introduction  Progressive tax  A progressive tax is based upon the taxpayer's ability to…

Q: A government replaces progressive taxes with regressive taxes. What is the likely outcome?  a.…

A: In an economy, a progressive tax is when higher income tax is imposed on the people with higher…

Q: of a given activity. c) Economists refer to the revenue collected as a result of a tax as the burden…

A: In an economy, economists think that there are different types of tax burden when government imposes…

Q: Income Tax rates will be changed to the following Marginal Tax Rates given by: T(I) = 40*I2/ I2+1000…

A: Marginal tax rate refers to the tax rate that imposed on the last dollar of income.

Q: Suppose taxes are related to income as follows: Income Taxes $1,000 $200 $2,000 $350 $3,000 $450 a.…

A:

Q: Define progressive tax.asap

A: We know that A tax refers to an amount imposed on the person, commodities or any other item to earn…

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 =…

Q: A tax that has a larger relative impact on the incomes of high-income individuals than on low-income…

A: Answer to the question is as follows :