Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506756
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter 4, Problem 13CQ
To determine
Describe the effect of more tax burden in the rise of tax revenue.
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Students have asked these similar questions
"We should impose a 20 percent luxury tax on expensive automobiles (those with a sales price of $75,000 or more) in order to collect more tax revenue from the wealthy." Will the burden of the proposed tax fall primarily on the wealthy?
Why or why not?
When the government levies a tax on a good, who actually bears the burden of the tax? The people buying the good? The people selling the good? Or if buyers and sellers share the tax burden, what determines how the burden is divided? Can the government simply legislate the division of the burden, as the mayor is suggesting, or is the division determined by more fundamental market forces? *
How can tax incidences have a positive and negative impact on the economy?
Chapter 4 Solutions
Macroeconomics: Private and Public Choice (MindTap Course List)
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Similar questions
- Seeing a golden opportunity to increase its revenue, assume the City of Boston has decided to levy a per ticket tax of $5, to be paid by the ticket buyer. Boston sports fans, a famously civic-minded lot, dutifully send in the $5 per ticket. Draw a well-labeled graph showing the impact of the tax. On whom does the tax burden fallbuyers, sellers, or both? Why?arrow_forwardif the government doubled the tax on gasoline,can you be sure that revenue from the gasoline tax will rise ? can you be sure that the deadweight loss from the gasoline tax will rise?arrow_forward
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