MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter P4, Problem 14KC
To determine
The type of
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Title: Digital Services Tax (DST) of six per cent on 1 January 2020 on Malaysia's foreign digital service providers (FSPs).
Please use own sentences
Based on your opinion, discuss and explain how will digital tax effect on government
-Discuss the effects of direct taxes on consumer behavior. (It should be composition and it should include minimum 200 words.)
Question 10
A government is considering reducing the amount of taxes it collects from its citizens each year. Which of the following is the best argument against the tax reduction?
a
The government might have a smaller role in the economy.
b
The government will likely have to produce fewer goods and services with the reduced revenue.
c
Citizens will not be able to purchase as many goods and services as they could previously.
d
People do not generally like taxes.
Knowledge Booster
Similar questions
- Question Arrange the following revenues in the federal government, from greatest to least. (1 being the greatest, 6 being the least.) Column A 1. 2. 3. 4. 5. 6. Individual Income Taxes Social Security and Medicare Taxes Corporate Income Taxes Excise Taxes Miscellaneous Revenue Customs Duties Column B a. 4 Select the three correct answers. O a Medicare and Medicaid Ob military and defense Uc state and local governments. Ud Federal Bureau of Investigation De education and transportation A f Social Security b. 2 c. 5 d. 1 e. 6 f. 3 Questio Which items are part of mandatory spending in the federal government?arrow_forward5 The largest source of government revenues is ________. Select one: a. personal income taxes b. Social Security taxes c. corporate income taxesarrow_forwardFind the marked price and sales tax. Total price Sales tax rate Marked price Sales tax $396.77 6.8% Question content area bottom Part 1 Total price Sales tax rate Marked price Sales tax $396.77 6.8% $enter your response here $enter your response here (Round to the nearest cent.)arrow_forward
- ng System (Academic) of estion Price (dollars per CDJ g 8 40 20 10 + tax on seller Select one: S 0 10 20 30 40 50 60 70 80 D A. $200 million OB. $20 million OG $400 million O D. $40 million Quantity (millions of CDs per year] In the above figure, what is the total tax revenue collected by the government?arrow_forwardA Moving to the next question prevents changes to this answer. Question 7 The C.P.I. INCLUDES which of the following? a. Soldier uniforms, Congressional salaries, sewer repairs b. Entertainment, delivery trucks, income taxes c. Housing, sales taxes, prescription glasses d. Farming equipment, pharmaceuticals, surgery equipment Moving to the next question prevents changes to this answer.arrow_forwardTaxation (Malaysia) (minimum 150 words each ) 1. Advantages and disadvantages of direct and indirect taxes. 2. Classification of taxationarrow_forward
- Percent of Income Paid in Total amount Income Tax of Tax Paid Family $10,000 10% $1,000 A Family $50,000 20% $10,000 В Family $100,000 30% $30,000 C Identify the tax structure based on the tax chart. Proportional Tax Progressive Tax Regressive Taxarrow_forwardQuestion 10 Fiscal policy involves the manipulation of O federal government spending and tax revenues wages and prices the supply of money O U.S. interest ratesarrow_forwardSpecial interests do not oppose regulations in all cases. The Marketplace Fairness Act of 2013 would require online merchants to collect sales taxes from their customers in other states. Why might a large online retailer like Amazon.com support such a measure?arrow_forward
- Question 3 - Taxation Suppose the federal government requires beer drinkers to pay a $2 tax on each case of beer purchased. (a) Draw a supply-and-demand diagram of the market for beer without the tax. Show the price paid by consumers, the price received by producers, and the quantity of beer sold. What is the difference between the price paid by consumers and the price received by producers? (b) Now draw a supply-and-demand diagram for the beer market with the tax. Show the price paid by consumers, the price received by producers, and the quantity of beer sold. What is the difference between the price paid by consumers and the price received by producers? Has the quantity of beer sold increased or decreased? (c) Can you identify any government revenues? (d) Is there any inefficiency, and if so, can you define it and label it on the graph? Solution for C and Darrow_forwardQuestion 3 - Taxation Suppose the federal government requires beer drinkers to pay a $2 tax on each case of beer purchased. (a) Draw a supply-and-demand diagram of the market for beer without the tax. Show the price paid by consumers, the price received by producers, and the quantity of beer sold. What is the difference between the price paid by consumers and the price received by producers? (b) Now draw a supply-and-demand diagram for the beer market with the tax. Show the price paid by consumers, the price received by producers, and the quantity of beer sold. What is the difference between the price paid by consumers and the price received by producers? Has the quantity of beer sold increased or decreased? (c) Can you identify any government revenues?arrow_forwardQuestion 3 - Taxation Suppose the federal government requires beer drinkers to pay a $2 tax on each case of beer purchased. (a) Draw a supply-and-demand diagram of the market for beer without the tax. Show the price paid by consumers, the price received by producers, and the quantity of beer sold. What is the difference between the price paid by consumers and the price received by producers? (b) Now draw a supply-and-demand diagram for the beer market with the tax. Show the price paid by consumers, the price received by producers, and the quantity of beer sold. What is the difference between the price paid by consumers and the price received by producers? Has the quantity of beer sold increased or decreased? (c) Can you identify any government revenues? (d) Is there any inefficiency, and if so, can you define it and label it on the graph? (e) if the producer has an elastic supply curve which market participant has the bigger burden. Expalin solution for earrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics 2eEconomicsISBN:9781947172364Author:Steven A. Greenlaw; David ShapiroPublisher:OpenStax
Principles of Economics 2e
Economics
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:OpenStax