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- 7. Assuming a $6 per unit tax is imposed, what will be the quantity traded? (a) 4 (b) 8 (c) 12 (d) 14 (e) 18 8. Assuming a $6 per unit tax is imposed, how much revenue will the government collect? (a) $20 (b) $32 (c) $40 (d) $48 (e) $60 9. Assuming the government subsidizes this good to the tune of $6 per unit, what will be the total cost of the subsidy? (a) $112 (b) $96 (c) $56 (d) $42 (e) $14ng 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?18. Given the following graph, calculate the government tax revenue. 0.9 0.8 0.7 8 0.6 Price per CD. 0.5 0.4 0.3 0.2 0.1 0 0 (a) $4 million 10 20 30 40 7 50 60 (b) $8 million (c) $16 million (d) $28 million (e) There is not enough information to answer this question. S2 70 D 80 S1 4 90 gupply in
- 19) The diagram below shows supply and demand before (S and D) and after (ST) the government imposes an excise tax. P 48 44 40 36 32 28 24 20- 16 12 8 4 0 3000 6000 FIGURE 18-5 9000 H ST 5 S Q 12000 15000 18000 21000 Refer to Figure 18-5. Producers' total revenue before the excise tax is introduced is equal to A) $432 000. B) $294 000. C) $138 000. D) $84 000. E) $12 000. 19)-Discuss the effects of direct taxes on consumer behavior. (It should be composition and it should include minimum 200 words.)2. Under what circumstances should taxpayers itemize deductions? Explain.
- In State Z, the sales tax rates vary based on the type of goods sold. For clothing items, the tax rate is 5%, and for electronics, the tax rate is 8%. If Sarah purchases a jacket for $50 and a smartphone for $600, how much sales tax does she pay in total? A) $29 B) $44 C) $46 D) $503 Calculate the income taxes that a person has to pay considering the table below- If a person's income is $6,500, how much does he pay in taxes? If a person's income is $13,500, how much does she pay in taxes? (a) (b) Taxable Up to $5,000 $5,001-$10,000 $10,001-$15,000 Income Taxes 10% of taxable income 14% of taxable income 16% of taxable income21) The diagram below shows supply and demand before (S and D) and after (ST) the government imposes an excise tax. P 48 44 40 36 32 28 24 20 16 12 8 4 0 3000 FIGURE 18-5 -- 6000 ST Q 9000 12000 15000 18000 21000 Refer to Figure 18-5. The direct burden of the tax is equal to A) $432 000. B) $294 000. C) $138 000. D) $84 000. 21) E) $12 000.
- Tax is a type of revenue receipts True/FalseA4 Consider a linear income tax system in which one’s tax owed to government, T, depends on one’s income, I, according to the formula T = a + tI, where 0 < t < 1, and a is a constant. (a) What is the marginal tax rate (MTR)? Does the MTR change with income? (b) What is the average tax rate (ATR) when the income level is I? (c) If the income tax is progressive, then what can you say about the value of a?If the government is to cover childcare costs, how do you explain it to non-parents who don’t want to bear the costs of childcare through taxes? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.