0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is considered a consumption tax?
sales tax
What type of tax is the sales tax?
A sales tax is a consumption tax, usually paid by the consumer at the point of purchase. For A+ answer is regressive
What are the objectives of tax?
Objectives:1. Collection of revenue2. Redistribution of income3. Macroeconomic control4. Protection of industry5. Economic growth6. Control of consumption...Example- tobacco, drugs.
Match each type of tax with an example of its use apex?
property tax;1% charged on the value of a home personal income tax; 20% charged on wages earned capital gains tax; 2% charged on profits from selling a home
Sales tax is an example of what kind of tax?
It's an example of blue tax
What is a example of a tax on consumption?
An example of a tax on consumption would be a sales tax. A sales tax is a tax paid for the sales of goods and services. A consumption tax, it is a tax on something used or "consumed." A sales tax is a good example. Europe has a value added tax which is the same idea.
What is an example of a tax on consumption?
An example of a tax on consumption would be a sales tax. A sales tax is a tax paid for the sales of goods and services. A consumption tax, it is a tax on something used or "consumed." A sales tax is a good example. Europe has a value added tax which is the same idea.
What is an example of a tax of consumption?
A consumption tax is a tax on spending on goods and services. For example, if a retailer buys a shirt for $20 and sells it for $30, this tax would apply to the $10.
Is considered a consumption tax?
sales tax
What is considered a consumption tax?
sales tax
Tax on gasoline is an example of what type of tax?
Tax on gasoline is an example of an excise tax. Excise taxes are taxes on specific goods or services that are typically included in the price of the product and paid by the consumer, rather than collected separately. The purpose of an excise tax is usually to discourage the consumption of the taxed item or to raise revenue for the government
What is standard vat?
A value-added tax (VAT) is a form of consumption tax.
What type of tax is the sales tax?
A sales tax is a consumption tax, usually paid by the consumer at the point of purchase. For A+ answer is regressive
What will an increase in taxes on consumers most likely cause?
This depends on what type of tax it is, lump sum or marginal.Lump sum: a lump sum consumption tax would not affect the general level or composition of consumption because fixed quantities do not affect optimal consumption-savings decisions.Marginal tax: if the marginal tax increased (i.e.) a general sales tax increase), it would decrease overall consumption because the tax would be an increase in the cost of consuming, and thus encourage the consumer to save more money and consume less.
What kind of tax is paid by consumers when a product is purchased?
consumption
What type of tax is paid by the consumer when a product is purchased?
The type of tax paid by the consumer when a product is purchased is typically a sales tax. This tax is added to the total cost of the product at the point of sale and collected by the seller on behalf of the government.
What are the objectives of tax?
Objectives:1. Collection of revenue2. Redistribution of income3. Macroeconomic control4. Protection of industry5. Economic growth6. Control of consumption...Example- tobacco, drugs.
