MyLab Economics with Pearson eText -- Access Card -- for Economics
7th Edition
ISBN: 9780134739403
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Question
Chapter 18, Problem 18.2.8PA
Sub part (a):
To determine
Calculation of income tax, marginal tax rate, and average tax rate.
Sub part (b):
To determine
Calculation of income tax, marginal tax rate, and average tax rate.
Sub part (c):
To determine
Calculation of income tax, marginal tax rate, and average tax rate.
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The table below describes three tax systems (A, B, and C) for three income levels.
Tax system A
Tax system B
Tax system C
Income
Amount of Tax Percent of Income Amount of Tax Percent of Income Amount of Tax Percent of Income
20,000 $
50,000
100,000 S
$.
3,000
5,000
15%
15%
15%
30,000
15,000
10,000
a. Fill in the blanks in the table and, for each tax system, explain whether it is
progressive, regressive or proportional.
b. Which of these three tax systems can be considered as equitable?
Give a brief example of regressive tax system
Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to $1 per liter is levied on soft drink sellers, please answer the following questions:
1. Buyers would spend a total of $___________ million on soft drinks.
2. Sellers would receive a total of $____________ million (after-tax) from selling soft drinks.
3. The government revenue from this tax would be $____________ million.
Chapter 18 Solutions
MyLab Economics with Pearson eText -- Access Card -- for Economics
Ch. 18 - Prob. 18.1.1RQCh. 18 - Prob. 18.1.2RQCh. 18 - Prob. 18.1.3RQCh. 18 - Prob. 18.1.4RQCh. 18 - Prob. 18.1.5PACh. 18 - Prob. 18.1.6PACh. 18 - Prob. 18.1.7PACh. 18 - Prob. 18.1.8PACh. 18 - Prob. 18.1.9PACh. 18 - Prob. 18.1.10PA
Ch. 18 - Prob. 18.1.11PACh. 18 - Prob. 18.2.1RQCh. 18 - Prob. 18.2.2RQCh. 18 - Prob. 18.2.3RQCh. 18 - Prob. 18.2.4RQCh. 18 - Prob. 18.2.5PACh. 18 - Prob. 18.2.6PACh. 18 - Prob. 18.2.7PACh. 18 - Prob. 18.2.8PACh. 18 - Prob. 18.2.9PACh. 18 - Prob. 18.2.10PACh. 18 - Prob. 18.2.11PACh. 18 - Prob. 18.2.12PACh. 18 - Prob. 18.2.13PACh. 18 - Prob. 18.3.1RQCh. 18 - Prob. 18.3.2RQCh. 18 - Prob. 18.3.3PACh. 18 - Prob. 18.3.4PACh. 18 - Prob. 18.3.5PACh. 18 - Prob. 18.3.6PACh. 18 - Prob. 18.3.7PACh. 18 - Prob. 18.3.8PACh. 18 - Prob. 18.3.9PACh. 18 - Prob. 18.3.10PACh. 18 - Prob. 18.3.11PACh. 18 - Prob. 18.4.1RQCh. 18 - Prob. 18.4.2RQCh. 18 - Prob. 18.4.3RQCh. 18 - Prob. 18.4.4RQCh. 18 - Prob. 18.4.5RQCh. 18 - Prob. 18.4.6PACh. 18 - Prob. 18.4.7PACh. 18 - Prob. 18.4.8PACh. 18 - Prob. 18.4.9PACh. 18 - Prob. 18.4.10PACh. 18 - Prob. 18.4.11PACh. 18 - Prob. 18.4.12PACh. 18 - Prob. 18.4.13PACh. 18 - Prob. 18.4.14PACh. 18 - Prob. 18.4.15PACh. 18 - Prob. 18.1CTE
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Similar questions
- What are the main categories of U.S. federal government taxes?arrow_forwardwhy is the tax rate 6?arrow_forwardEXERCISE The following table shows the amount of tax paid in three countries X, Y and Z. Identify the type of tax structure practiced in each country. Country New tax paid X Y Z Original income level 1,000 1,200 1,500 Original Tax paid 50 72 150 New income level 5,000 8,000 10,000 500 480 600arrow_forward
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