Homework Answers
Correct option - is equitable
A tax system is equitable when taxes are distributed fairly.
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when taxes are distributed fairly. A tax system Ois equitable is in equilibrium has no deadweight...
58. A tax placed on land (fixed) would cause a. a huge deadweight loss. b. no...
58. A tax placed on land (fixed) would cause a. a huge deadweight loss. b. no deadweight loss. c. landlords to not bear any of the burden of the tax, d. enough tax revenue so that all other taxes could be eliminated. When a country is on the downward-sloping side of the Laffer curves, cutting tax rates will a. lower tax revenues and increase deadweight loss. b. lower both tax revenues and deadweight loss. c. increase tax revenues and decrease...
(1) Briefly explain why deadweight loss exist when a tax is imposed. Why would deadweight loss be lower if the tax is i...
(1) Briefly explain why deadweight loss exist when a tax is imposed. Why would deadweight loss be lower if the tax is imposed on a good with inelastic demand? [3 Points)
The state has decided to increase funding for public education. They are considering four alternative taxes...
The state has decided to increase funding for public education. They are considering four alternative taxes to finance these expenditures. All four taxes would raise the same amount of revenue.”: A sales tax on food. A tax on families with school-age children. A property tax on vacation homes. Evaluate these tax options: Taxes change incentives. How might individuals change their behavior because of each of these taxes? ( Rank these taxes from smallest deadweight loss to largest deadweight loss. Explain....
Which of the following tax collection claims is incorrect? Choose one: a. The loss of welfare...
Which of the following tax collection claims is incorrect? Choose one: a. The loss of welfare tax is less as the tax is lower in ISK or proportion. b. A tax imposed on a person who has a completely unsustainable price elasticity of demand does not result in any loss of welfare. C. Taxation entails a loss of welfare (deadweight loss, all loss). d. The tax itself is part of the cost of the tax system. e. Efficient taxes never...
tax on a good has a deadweight loss if O the reduction in consumer and producer...
tax on a good has a deadweight loss if O the reduction in consumer and producer surplus is greater than the tax revenue. the tax revenue is greater than the reduction in consumer and producer surplus. O the reduction in consumer surplus is greater than the reduction in producer surplus the reduction in producer surplus is greater than the reduction in consumer surplus. CENGAGE MINDTAP Direct-from-Text Homework: Applications: The Costs of Taxation Back to Assignment Attempts: Score: /1 2. Multiple...
NAME PRINT LAST NAME, FIRST NAME SECTION Commodity taxes usually result in deadweight loss because a...
NAME PRINT LAST NAME, FIRST NAME SECTION Commodity taxes usually result in deadweight loss because a tax saus fall, increasing both consumer surplus and producer Surplus fall, decreasing both consumer surplus and producer surplus rise, increasing both consumer surplus and producer surplus rise, decreasing both consumer surplus and producer surplus Use the graph below to answer questions 6 through 10. Price 8.50 Supply + Tas 6.50 5.50 4.50 - Supply 3.50 Demand 750 1,500 Quantity If there is no tax...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Regressive O Progressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
4. Excise tax cause deadweight loss when it: All (a,b,c) are true Increases the quantity of...
4. Excise tax cause deadweight loss when it: All (a,b,c) are true Increases the quantity of the good supplied and demanded in the market Creates an incentive for mutually beneficial exchanges to take place. Raises the price of the good being taxed
Market Equilibrium
The figure below shows the market for fertilizer. When fertilizer is applied to lawns, it runs off into neighboring streams and ponds, killing fish and creating an external cost.a) What is the equilibrium price and quantity of fertilizer in an unregulated, competitive market? b) What is the efficient quantity of fertilizer? c) Suppose government imposes a tax equal to the marginal external cost. What is the equilibrium price paid by consumers and the equilibrium quantity after implementation of the tax ? d) At...
Taxes are generally distortionary. This means they affect the behaviour of consumers and/or producers. If the...
Taxes are generally distortionary. This means they affect the behaviour of consumers and/or producers. If the private market would achieve a Pareto efficient outcome without the tax, then when a distortionary tax is introduced, it moves society away from the Pareto efficient outcome. In other words, it makes society as a whole worse off. The efficiency loss is known as the "excess burden" or "deadweight loss" of the tax. Give an example of a tax and explain how it distorts...
58. A tax placed on land (fixed) would cause a. a huge deadweight loss. b. no deadweight loss. c. landlords to not bear any of the burden of the tax, d. enough tax revenue so that all other taxes could be eliminated. When a country is on the downward-sloping side of the Laffer curves, cutting tax rates will a. lower tax revenues and increase deadweight loss. b. lower both tax revenues and deadweight loss. c. increase tax revenues and decrease...
(1) Briefly explain why deadweight loss exist when a tax is imposed. Why would deadweight loss be lower if the tax is imposed on a good with inelastic demand? [3 Points)
Which of the following tax collection claims is incorrect? Choose one: a. The loss of welfare tax is less as the tax is lower in ISK or proportion. b. A tax imposed on a person who has a completely unsustainable price elasticity of demand does not result in any loss of welfare. C. Taxation entails a loss of welfare (deadweight loss, all loss). d. The tax itself is part of the cost of the tax system. e. Efficient taxes never...
tax on a good has a deadweight loss if O the reduction in consumer and producer surplus is greater than the tax revenue. the tax revenue is greater than the reduction in consumer and producer surplus. O the reduction in consumer surplus is greater than the reduction in producer surplus the reduction in producer surplus is greater than the reduction in consumer surplus. CENGAGE MINDTAP Direct-from-Text Homework: Applications: The Costs of Taxation Back to Assignment Attempts: Score: /1 2. Multiple...
NAME PRINT LAST NAME, FIRST NAME SECTION Commodity taxes usually result in deadweight loss because a tax saus fall, increasing both consumer surplus and producer Surplus fall, decreasing both consumer surplus and producer surplus rise, increasing both consumer surplus and producer surplus rise, decreasing both consumer surplus and producer surplus Use the graph below to answer questions 6 through 10. Price 8.50 Supply + Tas 6.50 5.50 4.50 - Supply 3.50 Demand 750 1,500 Quantity If there is no tax...
8. The tax system Understanding taxes In general, is the U.S. federal tax system progressive or regressive? O Regressive O Progressive You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years How will your gain or loss be treated when you file your taxes? O As a capital gain taxed at the long-term tax rate O As a capital gain taxed at the current ordinary-income tax rate...
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