Fiscal Policy: Taxes

Question 1

Based on the information provided, what type of tax has Country Q implemented?

Revolt · Accepted Answer

a tariff

Question 2

progressiveregressiveproportional

Revolt · Accepted Answer

regressive; This scenario describes a tax system.: regressive; Isabel pays Tony and Juan on the computer.: the same tax as; pays the highest tax rate on the computer.: Tony; would be the most affected by an increase in the sales tax rate.: Tony

Question 3

progressive regressive proportional

Revolt · Accepted Answer

progressive; This chart describes a tax system.: progressive; The individual who benefits most from this policy is probably.: Rohan

Question 4

progressive regressiveproportional

Revolt · Accepted Answer

proportional; The chart describes a tax system.: proportional; In this tax system, higher-income earners pay a(n) proportion compared to lower-income earners.: equal

Question 5

about $80 billionabout $280 billionabout $480 billion

Revolt · Accepted Answer

about $80 billion; about $480 billion

Question 6

progressive taxesincome taxescorporate taxes

Revolt · Accepted Answer

income taxes; Taxes that are paid by individuals on all money earned, including investments, are .: income taxes; Taxes that are paid by homeowners to state and local governments are .: property taxes; Taxes that businesses are required to pay on their earnings throughout the course of a year are.: corporate taxes

Question 7

Based on what you have read, what type of tax is Robert paying?

Revolt · Accepted Answer

an excise tax

Question 8

What action can the government of Country DF take to encourage citizens to purchase homes?

Revolt · Accepted Answer

lower income taxes for homeowners

Question 9

How can expansionary and contractionary tax policies be used to manage the economy?Be sure to give your answer in two to three sentences.

Revolt · Accepted Answer

Expansionary tax policies lower taxes to stimulate spending, investment, and economic growth, especially when unemployment is high. Contractionary tax policies raise taxes to reduce spending and slow economic growth when inflation is rising.

Fiscal Policy: Taxes Answers

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