Answer:
The answer is D I would say.
Answer:
B) raises the price buyers pay and lowers the price sellers receive.
Explanation:
A tax can be defined as the compulsory levy by the government on the income of an individual or company and the goods and services. It is used to generate income in a country in order to finance the expenditures of the government.
Types of tax
• Income Tax: This is the compulsory levy by the government on the income of an individual.
•Corporate Tax: This is the levy paid by corporate organzation on their Profits.
•Sales Tax: It is levied on goods and services. This type of tax increases the price of a product thereby making buyers to pay more. The sellers receives lower prices because they will deduct tax from what the sellers have paid and pay to the government.
•Property Tax: It is levied on the value of land or property.
•Tariff: Tax paid on imported goods. It is used to discourage importation. An increase in import tariff leads to an increase in price of the Commodity thereby leading to decrease in quantity purchased.
There are three basic tax laws
1) Progressive tax
2) Regressive tax
3) Proportional tax.
Answer:
a. The effective price received by sellers is $0.40 per bottle less than it was before the tax.
Explanation:
When government imposes tax on a product, a seller's margin on such a product falls which the seller tries to recover from the buyer by raising the price of the product.
In the given case, $1 is tax payable to government out of which the seller recovers $0.60 from the buyer via increased price. So, the remaining $0.4 tax is being paid by the seller out of his own pocket.
Effective price received refers to net amount received by the seller after deducting expenses and taxes. So, in the given case, the seller now receives $0.4 less per bottle than the receipts before such tax was imposed.
Answer: Expatriate, third country national.
Explanation: An international employee is an individual who is employed to work in a company that is not in his country of origin.
International workers are most times referred to as expatriates. Expatriates are people who live and work in a country which is not their country of origin.
A third country national is an individual living in a country foreign to his, and applying for a visa to migrate to another foreign country. A third country can also fill in the category of an international worker.
