1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ludmilka [50]
2 years ago
5

Choose the letter of the item that best completes the statement or answers the question. Last year Jackson earned $500,000, Vele

z earned $50,000, and Bari earned $5,000. According to their states’s tax laws, each one had to pay a tax of $500. Which one of the following terms best describes this tax? (a) progressive (b) proportional (c) regressive
(d) inexpensive.
2. Which one of the following is an example of an excise tax? (a) individual income tax (b) tax on perfume (c) corporate income tax
(d) ticket of admission to Yosemite National Park.
3. Rose Chin just purchased $12 worth of school supplies. The state
sales tax is 5 percent. How much did Rose have to pay for the supplies? (a) $12.60 (b) $11.40 (c) $18 (d) $6.
4. Which of the following would be an example of a property tax? (a) a
tax based on the value of one's home (b) admission to Yellowstone
National Park (c) a tax deducted from one's weekly wages (d) a tax
added to the price of gasoline.
5.
Which one of the following is the best example of the ability-to-pay
principle? (a) bridge toll (b) income tax (c) sales tax (d) property tax.
6. Which one of the following is an example of a tax based on the benefits-received principle? (a) bridge toll (b) income tax (c) sales tax
(d) property tax.
7. In the United States, taxes are used to accomplish all of the following except (a) help pay for the cost of government (b) take from the
rich and give to the poor (c) determine which brands consumers
buy (d) keep certain goods out of the country.
8. Brown owns an apartment house in the city. There are 50 units
in the building. Brown must pay $7,200 a year in property taxes
to the city. To make up for this tax, Brown has added $12 to the
monthly rent on each apartment unit. For the apartment tenants,
the tax is (a) an indirect tax (b) a direct tax (c) an income tax (d) a
sales tax.
9. Who ultimately bears the burden of the tax in question 8? (a) the
city (b) Brown (c) the tenants and Brown (d) the tenants.
10. Which one of the following is an example of a protective tariff?
(a) tax on theater tickets (b) sales tax on clothing (c) bridge toll
(d) tax on the importation of foreign-made cars.
Business
1 answer:
Vitek1552 [10]2 years ago
5 0

1. According to their states’ tax laws, which require each one to pay a tax of $500 despite their different earnings, the best description of the tax is <u>(c) regressive</u>.

<h3>What is a regressive tax system?</h3>

A regressive tax system is one where taxpayers pay a disproportionate share of the tax burden, given their earning levels.

A regressive tax system is not proportional or progressive.

2. An example of an excise tax is (b) tax on perfume.

3. The amount Rose Chin paid for the purchase of school supplies based on the state sales tax of 5% is <u>a) $12.60</u> ($12 x 1.05).

4. An example of a property tax is a) a tax based on the value of one's home.

5. The best example of the ability-to-pay principle is <u>b) income tax</u>.

6. An example of a tax based on the benefits-received principle is (a) bridge toll.

7. In the United States, taxes are used to accomplish all of the following except (c) determine which brands consumers buy.

8. For the apartment tenants, the tax is <u>d) a sales tax</u>.

9. The ultimate tax-burden bearer in question 8 is <u>(d) the tenants</u>.

10. An example of a protective tariff is (d) tax on the importation of foreign-made cars.

Thus, while income tax is mostly progressive in the United States, sales taxes are proportional, while some taxes are regressive because the amount paid is fixed and does not depend on the ability-to-pay principle.

Learn more about tax systems at brainly.com/question/12890967

#SPJ1

You might be interested in
Henry works as an assembly line worker at MM Corporation. Two weeks back, he suffered multiple fractures while trying to repair
Ivenika [448]

Answer:

he is still getting paid while he is out. He probably has a doctors note.

Explanation:

idk what the question is.

8 0
3 years ago
Wormwood, Ltd., produces a variety of furniture products. The planning committee wants to prepare an aggregate plan for the next
Brums [2.3K]

Answer:

Wormwood limited

Production plan that will yield the least cost of $49,630 is shown in the attached document.

It entails maxing out the regular capacity from period 1 to 5, and using regular to produce only 140 units in period 6

It further entails using overtime to produce 10 units from period 1 to 5. And subcontracting only in period 4 to cover the demand/production gap.

This will keep inventory of 10 units in period 2, which is carried into period 3 and consumed in period 4.

4 0
3 years ago
TopChop sells hairstyling franchises. TopChop receives $62,000 from a new franchisee for providing initial training, equipment,
Molodets [167]

Answer:

$65,332

Explanation:

The computation of revenue in 2021 is shown below:-

Revenue for the year 2021 = New franchisee received + Received by Top chop × (From July 1 to Aug 1 ÷ 2)

= $62,000 + $40,000 × 1 ÷ 2

= $62,000 + $40,000 × 0.5

= $62,000 + $20,000

= $82,000

Therefore, the revenue recognized for its arrangement is $82,000 and the new franchisee fee instantly recorded as an income

4 0
3 years ago
The law of demand states that A. a higher price will lead to increased sales. B. quantity demanded will vary inversely with the
Alchen [17]

Answer:

The correct answer is B. The law of demand states that quantity demanded will vary inversely with the price of the good.

Explanation:

The law of demand states that the value of demand decreases as the price of the product increases, that is, between the value of demand and the price there is an inverse relationship, therefore, an increase in price causes a decrease in demand, and a decrease in price causes an increase in demand.  

Therefore, manufacturers who have decided to produce more should know that an increased number of goods can only be sold at a lower price.

The quantity of goods purchased depends on the price as well as on the average income of the buyers, the size of the market, the price and usefulness of other goods, including substitutes, subjective tastes and preferences of buyers.

8 0
3 years ago
Read 2 more answers
Henry Edwards was injured in an accident caused by another driver who did not have insurance. Henry's medical expenses would be
balu736 [363]

The correct answer is option D, uninsured motorists protection

In the uninsured motorists protection, an individual  gets medical insurance who has faced accident due to low liability of the driver (or any person driving the car) to meet the expenses of the accident as he was not having insurance


6 0
3 years ago
Other questions:
  • What is the name of the technique used to open the airway of an unresponsive not-breathing guest?
    15·2 answers
  • Items that have a useful life of more than one year and used in the business
    5·1 answer
  • Choose all that apply.
    10·1 answer
  • As a delegate to the World Trade Organization, Kate stated during negotiations that the same rules and regulations that applied
    12·1 answer
  • Profit plays an important role in business give any four reason to justify the statement
    10·1 answer
  • The concept of materiality:
    7·1 answer
  • If the government and Central Bank don't use economic policy, what could happen?
    13·1 answer
  • What is the main purpose of monetary policies?
    7·2 answers
  • Atlantis Corporation has​ 12,000 shares of​ 14%, $78 par noncumulative preferred stock outstanding and​ 29,000 shares of​ no-par
    15·1 answer
  • A $200,000 4 year bond was issued for $210,000. The semi-annual amortization of the bond premium using the straight-line method
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!