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- What taxes would an individual pay if he were self-employed and the business is not incorporated?36. Assuming a $7 per unit tax is imposed, the revenue raised by the government will be $______. a) 10 b) 12 c) 14 d) 16 e) 19 f) 28 g) 36 h) 48 i) 66 j) 70 k) 8413) The primary source of revenue of the Federal Government are percent pay a) corporate taxes, nearly 60% of all Federal personal income taxes. b) personal income taxes, nearly 60% of all Federal personal income taxes. c) property taxes, close to 70% of all Federal personal income taxes. d) sales and excise taxes and user charges. 6 and the top five
- 1-) Qd=12-2p Qs=2+2p. The government collects a tax of $1 per unit of the good. What is the type of this tax? a) income tax b-) ad valorem c-) specific special consumption tax e) social security taxGovernment collects the largest percentage of its revenue in which of the following ways? A) excise tax B) payroll tax C) corporate income tax D) personal income taxD) What are 4 objections that people raise about taxes? Give examples and explain in full sentences. 1. 2. 3. 4.
- of a given activity. c) Economists refer to the revenue collected as a result of a tax as the burden of taxation. Economists refer to other costs imposed on society because of the tax as the burden of taxation.5. PLEASE ANSWER ASAP! Give the answer of letter only: The amount of tax revenue received by the government is equal to the area: a) P1 C D P2. b) P2 D A P3. C) P3 A C P1 d) AB C.Assume for the following scenario that there is a 10% sales tax on gasoline. Gasoline Expenditures Total Tax Due Name (Dollars) (Dollars) Determine the amount of money each individual in the following table spends on gasoline taxes and their average tax rate. Total Taxable Income Average Tax Rate (Percent) (Dollars) Tim 10,000 10,000 Brian 40,000 32,000 Crystal 55,000 38,500 Hilary 85,000 51,000 Given the information in the previous table, sales tax on gasoline is because the average tax rate as income rises.
- Indirect taxes: Definition Explain why governments impose indirect taxes. Distinguish between specific and ad valorem taxes. Draw diagrams to show specific and ad valorem taxes, and analyze their impacts on market outcomes. Discuss the consequences of imposing an indirect tax on the stakeholders in a market, including consumers, producers and the government (EVALUATE). Explain, using diagrams, how the incidence of indirect taxes on consumers and firms differs, depending on the price elasticity of demand and on the price elasticity of supply. Calculate the effects on markets and stakeholders of indirect taxesA) What type of taxation does a Sole proprietorship have? Single or double B) What type of taxation does a LLC have? Single or double3) Are excise taxes, like those on tobacco, gasoline, and alcohol, Progressive, Proportional, or Regressive? Why do you think they are?
