EBK PRINCIPLES OF MICROECONOMICS
7th Edition
ISBN: 8220100469640
Author: Mankiw
Publisher: Cengage Learning US
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Question
Chapter 12, Problem 6CQQ
To determine
The impact of the given scenario.
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If the corporate income tax induces businesses toreduce their capital investment, thena. the tax does not have any deadweightloss.b. corporate shareholders benefit fromthe tax.c. workers bear some of the burden ofthe tax.d. the tax achieves the goal of verticalequity
Q) If a tax is economical,
Select one:
a. its cost of collection is small relative to the revenue collected.
b. it has an economic impact on households.
c. it creates no economic distortions.
d. its revenues are used to finance productive investments.
Explain it Early and correctly. Not copy paste anything from Anywhere.
Choose the Correct Answer.
1. This is a tax levied on gifts and is imposed on the gratuitous transfer of property between two or more persons who are living at the time of the transfer.
A. Estate tax
B. Capital gains tax
C. Donor Tax
D. Income Tax
2. It shows the peak of a business cycle.
A. Recession
B. Recovery
C. Prosperity
D. Depression
3. It shows that both production and employment fall.
A. Recession
B. Recovery
C. Prosperity
D. Depression
4. It pertains to the situation whereby both production and employment are at their lowest levels.
A. Recession C. Prosperity
Recovery D. Depression
5. It is a point in business cycle whereby both production and employment are rising towards full employment.
A. Recession
B. Recovery
C. Prosperity
D. Depression
Chapter 12 Solutions
EBK PRINCIPLES OF MICROECONOMICS
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Similar questions
- What does the research and experimentation tax credit do? It offers a tax benefit to individuals who work in research and development. It offers firms a tax reduction depending on how much research and development they do. Generates significant tax revenue for the federal government. It offers firms a tax reduction depending on hiring of scientific and technical personnel.arrow_forwardWhich of the following business forms is a government creation that looks like a corporation but is taxed like sole proprietorships and partnerships?Choose one answer.a. Limited liability company b. S corporation c. Franchise d. Acquisitionarrow_forwardWhich of the following is not a canon of taxation? Pick a,b,c, or d a. Equity b. General Acceptability c. Convenience d. Certaintyarrow_forward
- Choose the Letter of the Correct Answer. 1. It is an act of laying a tax. A. Theory of tax B. Taxation C. Taxing D. Tax 2. A tax imposed by the government at each stage in the production of goods. A. Excise B. Value –added tax C. Property D. Individual tax 3. A tax imposed for the general purposes of the government to raise revenue for the local area needs. A. National B. Municipal C. Community D. Local 4. It is sanction imposed as a punishment for violation of law or acts deemed injurious. A. Tax B. Penalty C. Fine D. Debt 5. This kind of tax is derived from the individuals, corporate estates, and trusts income. A. Income tax B. Capital gains tax C. Donor Tax D. Estate taxarrow_forwardWhat is the subject of Corporate Tax? Who has to pay corporate tax? Please provide detailedinformation.arrow_forwardThe Social Security tax is a tax on a. land. b. capital. c. savings. d. labor.arrow_forward
- Explain the benefit principle and ability to pay approach with regard to tax equity. Which approach do you think is appropriate regarding tax equity (fairness) ? And why?arrow_forward95. Homeowners a. benefit from several loopholes. b. must pay tax on the “income” of living in a house. c. have no particular advantages in the tax system. d. are subject to double taxation.arrow_forwardA new elected government want to reform its tax system. As an economist you are hired to advise the government how to design a better tax system. Give your recommendation on factors that government need to consider if they want to implement the better tax system. Add specific example or case for each factor you recommend to governmentarrow_forward
- Choose the letter of the correct answer. 1. This kind of tax is derived from the individuals, corporate estates, and trusts income. A. Donors tax B. Capital gains tax C. Income tax D. Estate tax 2. This is a kind of tax on the rights of the decreased person to transmit his/ her estate to lawful heirs and beneficiaries at the time of death. A. Donors tax B. Capital gains tax C. Income tax D. Estate tax 3. This is a tax levied on gifts and is imposed on the gratuitous transfer of property between two or more persons who are living at the time of the transfer. A. Estate tax B. Capital gains tax C. Income tax D. Donor Tax 4. A tax imposed on loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation. A. Documentary tax B. Capital gains tax C. Income tax D. Estate tax 5. A tax levied on the assessed value of land and permanently attached improvements owned by individuals or corporations. A. Property tax B. Capital gains tax C. Income tax…arrow_forwardWhat should the value of tax be. MC questionarrow_forwardQUESTION 1 1. Match the description to the type of tax. v Tax on the use of vehicles, gasoline, alcohol, cigarettes, highways, and A. Estate Tax the like. B. Excise Tax v Tax on the wealth and property of a person upon death. v Tax on wages, earned interest, capital gain, and the like. v tax on home and land ownership v Tax on purchases of discretionary items v Tax on items during their production as well as upon consumption C. Income Tax D. Sales Tax E. Value Added (VAT) tax or Goods and Services (GST) lax F. Property Taxarrow_forward
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