Which of the following is the most correct statemeht ab burdens? A tax burden is distributed independently of relative elasticities of supply and demand. A tax burden falls most heavily on the side of the market that is inelastic.

Q: Which of the following is not an example of excise tax? * A. Transfer tax B.…

A: Taxes are the compulsory payment made by individuals/firms to the government without having any…

Q: Explain marginal tax rate.

A: 1-The marginal tax rate is the additional/extra tax rate paid for every additional/extra income…

Q: Define the term Marginal Tax Rate?

A: Marginal tax rate is the rate at which tax is incurred on an extra dollar of income. In United…

Q: If GNPFC is $1900 million and net indirect taxes are $110 million Find GNPMP

A: The information being given to us is as follows:- Gross national product at factor cost = $1900…

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: 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: Explain tax abatements and how are they different from tax expenditures?

A: It affects the application of a credit to the whole taxes owed. Though circumstances may change,…

Q: Federal payroll taxes to fund the EI program are levied at a combined rate of 1.58 percent up to an…

A: There are usually three kinds of taxes that are levied by the state  Progressive tax - This is the…

Q: Suppose that a per-unit tax of 25 centavos per pack is placed on the sale of cigarettes by the…

A: 1. Burden of tax at D1 (Elastic demand): The price and quantity before tax is $1.30 and 5 units…

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 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: Indirect taxes: Draw diagrams to show specific and ad valorem taxes, and analyze their impacts on…

A: Answer: (1).  Specific indirect taxes: it refers to the per-unit tax imposed on each unit sold.…

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: Given the following information Qp = 240 – 5P Qs = P where Qp is the quantity demanded, Qs is the…

A: According to question given that demand and supply function, we have to deduce the new supply and…

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: 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: The fact that lower-income families will spend a higher percentage of their income on tangible goods…

A: Taxation system refers to the way of taxing the income of people by the state government or central…

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: Which of the following best describes a progressive tax system? It redistributes income from lower…

A: Progressive tax system is a system where people with higher incomes be higher taxes and people of…

Q: In the chart below for 2020 income tax brackets it shows information for single and married persons.…

A: Income Tax  Income Tax is the type of tax that is imposed by the government of a country on the…

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: Its is known that the demand function for a product is P = 24 - 1/2Q and the supply function Q = 4 +…

A: Equilibrium occurs at the point where the demand and supply is equal. For including the tax, it is…

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 tax whose impact varies inversely with the income of the person taxed, and poor people have a…

A: In the case of the regressive tax rate, the greater burden of tax is imposed on the poorer people…

Q: Applying John Rawls’ theory of justice in taxation, do you think that it is fair for some taxpayers…

A: A degressive expense is one in which rates are level yet exclusions or travelers are permitted,…

Q: A payroll tax is an example of a since it taxes the same percentage for all incomes. AProportional…

A: Taxes are the amount that is charged from the consumer. All the goods and services that are used by…

Q: Q.1.8 An example of an indirect tax is:  (a) income tax. (b) secondary tax on dividends. (c) company…

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

Q: described by the equation Q = 70 - 2P, and the supply curve is described by the equation Q = 10 + P.…

A: Equilibrium is achieved at the output level where quantity supplied equals quantity demanded.

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: Explain and expound why taxation is unavoidable in any state be it rich or poor. Supply facts to…

A: GDP. or the gross domestic product is the value of all the final goods and services which are newly…

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: Assuming that supply is somewhat elastic, the burden of a per unit tax is borne more by consumers…

A: The elasticity of supply and demand determines the amount of the  burden of tax bore by a consumer…

Q: Given the market value of indirect taxes are 630 and subsidies are 34 what will be the value of net…

A: Generally in the given question  Market values of indirect taxes = 630 Subsidies = 34 Net indirect…

Q: What is regressive and degressive tax?

A: In order to raise money for important public projects like providing the best infrastructure and…

Q: Define Situs of Taxation.

A: Situs of taxation virtually means place of taxation the overall rule is that the taxing power cannot…

Q: QUESTION 3 What tax per item t will maximize total tax reveue T = tq if the demand is p+ g= 1000 and…

A: We are going to find the Tax incidence to consumer to answer this question

Q: Use the table below to choose the correct answer. Income Tax (dollars) (dollars) 10,000 2,000 20,000…

A: Taxes are imposed by the government on the income of the individual so that it is useful for…

Q: Why is FICA a regressive tax?

A: Regressive tax: It refers to the tax which has to be paid by everyone. This tax changes with the…

Q: Income Percent of Income Paid in Tax Total amount of Tax Paid Family A $10,000 20% $2,000 Family B…

A: Tax rate is the percentage of income that is deducted to pay to government as taxes

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 =…