Suppose that a central government levies a new tax called “garbage tax” on all households of the country. Evaluate this new tax

Q: Suppose that the U.S. government decides to charge wine producers a tax. Before the tax, 30 billion…

A: here we calculate the given by following method as below;

Q: following is not regarded as part of fiscal policy Select one: a. Increased taxation b. Decreased…

A: Fiscal policy is a policy through which a government, in turn, adjusts its rates of taxation and…

Q: Suppose the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on…

A: Tax rate:For first 10,000=0%10000-30000=10%30000-50000=20%50000-80000=30%80000 and above=40%

Q: Assume that the federal government replaces the federal income tax with a national sales tax on all…

A: A federal income tax is the tax system where the incomes of individuals, firms, other companies are…

Q: What is direct tax and indirect tax? Give example. How does taxation helps in fiscal development?

A: Direct Tax A direct tax, to put it simply, is one which you pay to the taxing authority directly.…

Q: Which is wrong? EXPLAIN   a. The government should tax itself. b. The government can tax itself. c.…

A: In an economy, government is the highest ruling authority that runs the economy based on its…

Q: a. According to the benefits-received principle of taxation, O the higher one's income, the higher…

A: In an economy, government taxation has a significant impact on the behavior of the people and the…

Q: Which of the following is a significant revenue source for state and local governments, but not the…

A: Taxes are the amount charged by the government for the services provided and are the means of…

Q: The Laffer Curve illustrates that government can collect the same amount of tax revenue by choosing…

A: 1.Laffer curve is an inverted U shape like a curve. It states the relationship between tax rates and…

Q: Suppose the government imposes a specific tax of t=2 per unit. a. How do the equilibrium price and…

A: Given Information Demand Curve = 120 - 10PSupply Curve = 10P Tax, r = 2 per unit

Q: Most economists believe that a seduction in all statutory federal income tax rates in the United…

A: The supply of labor and other factors considering in and out of a city is more elastic than the…

Q: Oman recently introduced 5 % business taxes on some products and services. As a result, the supply…

A: Answer: a. Shift leftward and there will be less supply In this case, Oman tax authorities recently…

Q: In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over…

A: A tax is a necessary fee or a type of monetary charge that is imposed by a government on a person or…

Q: xplain the benefits principle and the ability-to-pay principle. What are vertical eguity and…

A: Microeconomics is the study of how people and businesses allocate resources and set prices for…

Q: As government keep raising tax rate (t) on buyers, government will continually collect higher tax…

A: The government influences the amount of discretionary income available to households by raising or…

Q: Suppose that the U.S. government decides to charge wine producers a tax. Before the tax, 25 billion…

A: Taxes are mandatory fees levied by the government. It contributes to the funding of government…

Q: 22. If the government decide to increase taxes on sugar, who do you think will carry the burden of…

A: As sugar is a necessary, therefore, its demand is inelastic (i.e. with a change in the price of the…

Q: Over the past century, has the government’s tax revenuegrown more or less slowly than the rest of…

A: Meaning of TAX: A tax is charged by the government compulsorily on an individual or legal entity.…

Q: Suppose that the government wants to tax wealthy people. They notice that only wealthy people buy…

A: The given tax on Yachts is an example of a luxury tax. A luxury tax is a tax that is imposed on the…

Q: Suppose that the U.S. government decides to charge beer consumers a tax. Before the tax, 35 billion…

A: In a competitive market, there exists a large number of buyers and sellers of the good in the…

Q: The graph shows the market for smartphone chargers. Draw a point to show the price of a smartphone…

A: Tax is a measure of cash/money that you need to pay to the public authority so it can pay for public…

Q: Part 1: Suppose that the government imposes a $4 per pizza tax on the sellers of pepperoni pizzas.…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: If after a tax is imposed, the price paid by the buyer rises by $3 while the price received by the…

A: Given, After tax, price paid by buyer = rose by $3 After tax, price received by seller = falls by $2…

Q: Using a hypothetical demand and supply equations explain what would happen if government imposes an…

A: An Indirect tax is an assessment/tax imposed by a governing body, indirectly from the consumer via…

Q: Identify whether each of the following taxes is progressive or regressive and indicate in each case…

A: 1. The Federal Personal Income tax is” progressive, and the incident is on the taxpayer” As income…

Q: Illustrate each of the following situations with a graph showing IS curve: a. An increase in taxes

A: Tax is a unilateral payment made from the public to the government for many purposes such as for the…

Q: Suppose the government of Country X would like to reduce traffic congestion by imposing a per-unit…

A: Tax causes the supply curve to shift left, thus reducing the quantity and increasing the prices.

Q: If the state government would like to increase tax revenue, please give three examples of…

A: In order to comprehend the burden and incidence of taxes, two key concepts are elasticity and taxes.…

Q: Suppose in Fiscalville there is a 5 percent tax on the first $10,000 of income, but there is a 15…

A: The average tax rate is the total amount of tax divided by total income.

Q: Describe the three distinct terms to describe the tax rates?

A: A tax is an obligatory payment made by the people towards the government in order to meet the…

Q: According to the pie chart, which of the following provides the most revenue for the federal…

A: As per the pie chart above, the federal tax revenue is $3.18 trillion and is collected/earned…

Q: 1.Suppose that the government puts a tax of 15 cents a gallon on                 gasoline and then…

A: Since you have asked multiple-parts questions, we will solve only the first three questions for you.…

Q: Accordingtothetextbook,whichofthefollowingstatementsis(are)correct? (x)  When a taxpayer attempts…

A: Taxation refers to the compulsory charge which the citizens of the country have to pay to the…

Q: Tax incidence is O A. the potential division of the burden of a tax between buyers and government in…

A: In a market, when government imposes tax on any of the market participants, this tax will have two…

Q: What happens to the tax revenue when the tax on a good increase gradually? (a) Will rise (b) Will…

A: ‘Deadweight Loss(DWL)’ can be defined as a cost that is created to society due to any kind of market…

Q: Suppose a tax is such that an individual with an income of $10,000 pays $2,500 of tax, a person with…

A: The effect of taxes on incentives to raise, save, or spend is calculated by average tax rates, while…

Q: According to Ibn Hazm, when zakah collection is not sufficient to satisfy the basic needs of the…

A: Answer-

Q: Whichofthefollowingstatementsis(are)correct? (x)  A payroll tax is a tax on the wages that a firm…

A: A payroll tax is a tax that the firm levies on workers for social security purposes. It is directly…

Q: Why does taxation create an excess burde

A: The excess burden of taxation is the efficiency cost, or deadweight loss, associated with taxation.…

Q: Suppose in Fiscalville there is a 5 percent tax on the first $10,000 of income, but there is a 15…

A:

Q: Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 35 billion…

A: The markets acts as an interacting place for the buyers, and the sellers in the economy. The…