A progressive tax is such that: A) tax rates are higher the greater one\'s incom

Question

A progressive tax is such that: A) tax rates are higher the greater one's income.
B) the same tax rate applies to all income receivers, so that the rich pay absolutely more taxes than the poor.
C) entrepreneurial income is exempt from taxation.
D) the revenues it yields are spent on transfer payments.
19. The ability-to-pay principle of taxation: A) has been declared unconstitutional because it deprives individuals of property without due process of law.
B) suggests that people should pay taxes in proportion to the benefits they derive from public goods and services.
C) suggests that taxes should vary directly with people's income and wealth.
D) suggests that taxes should vary inversely with people's income and wealth.
20. The U.S. tax-transfer system (as distinct from the tax system alone) is: A) progressive.
B) proportional.
C) bimodal.
D) regressive.
21. Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional $10,000 of income is: A) 5 percent.
B) 12 percent.
C) 35 percent.
D) 42 percent.
22. Which of the following taxes is least likely to be shifted? A) a state excise tax on the sellers of football tickets
B) a personal income tax
C) a general sales tax on retailers who sell foodstuffs and clothing
D) a Federal excise tax on the producers of whiskey
23. Which of the following is an exhaustive governmental outlay? A) a Federal $5,000 subsidy check to an Illinois farmer
B) a Temporary Assistance to Needy Families payment made by the state of New York
C) a NASA payment to Boeing Corporation for space hardware
D) a Federal old age insurance payment to a retired coal miner
24. In 2008, U.S. governments (local, state, and Federal) employed approximately how many million workers? A) 9.2
B) 13.0
C) 19.4
D) 22.5
25. Proprietary income refers to: A) revenue flowing to the government from taxes.
B) money borrowed by the government to finance its operations.
C) revenue generated by government-run businesses.
D) transfer payments from the government to the owners of property resources.
26. The basic tax rate on taxable corporate income is: A) 15 percent.
B) 22 percent.
C) 35 percent.
D) 52 percent.
27. The efficiency loss of a tax is: A) the net value of sacrificed output caused by the tax.
B) that portion of the tax paid by producers minus the portion paid by consumers.
C) that portion of the tax paid by consumers minus the portion paid by producers.
D) the total tax revenue minus the output loss caused by the tax.
28. Overall, the U.S. tax system (combined Federal, state, and local) is: A) highly progressive.
B) slightly progressive.
C) slightly regressive.
D) highly regressive.
29. Which of the following best reflects the ability-to-pay philosophy of taxation? A) a tax on residential property
B) a progressive income tax
C) an excise tax on gasoline
D) an excise tax on coffee
30. The Federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the: A) ability-to-pay principle of taxation.
B) benefits-received principle of taxation.
C) single-tax theory of taxation.
D) pay-as-you go theory of taxation.

A progressive tax is such that: A) tax rates are higher the greater one's income.
B) the same tax rate applies to all income receivers, so that the rich pay absolutely more taxes than the poor.
C) entrepreneurial income is exempt from taxation.
D) the revenues it yields are spent on transfer payments.
19. The ability-to-pay principle of taxation: A) has been declared unconstitutional because it deprives individuals of property without due process of law.
B) suggests that people should pay taxes in proportion to the benefits they derive from public goods and services.
C) suggests that taxes should vary directly with people's income and wealth.
D) suggests that taxes should vary inversely with people's income and wealth.
20. The U.S. tax-transfer system (as distinct from the tax system alone) is: A) progressive.
B) proportional.
C) bimodal.
D) regressive.
21. Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional $10,000 of income is: A) 5 percent.
B) 12 percent.
C) 35 percent.
D) 42 percent.
22. Which of the following taxes is least likely to be shifted? A) a state excise tax on the sellers of football tickets
B) a personal income tax
C) a general sales tax on retailers who sell foodstuffs and clothing
D) a Federal excise tax on the producers of whiskey
23. Which of the following is an exhaustive governmental outlay? A) a Federal $5,000 subsidy check to an Illinois farmer
B) a Temporary Assistance to Needy Families payment made by the state of New York
C) a NASA payment to Boeing Corporation for space hardware
D) a Federal old age insurance payment to a retired coal miner
24. In 2008, U.S. governments (local, state, and Federal) employed approximately how many million workers? A) 9.2
B) 13.0
C) 19.4
D) 22.5
25. Proprietary income refers to: A) revenue flowing to the government from taxes.
B) money borrowed by the government to finance its operations.
C) revenue generated by government-run businesses.
D) transfer payments from the government to the owners of property resources.
26. The basic tax rate on taxable corporate income is: A) 15 percent.
B) 22 percent.
C) 35 percent.
D) 52 percent.
27. The efficiency loss of a tax is: A) the net value of sacrificed output caused by the tax.
B) that portion of the tax paid by producers minus the portion paid by consumers.
C) that portion of the tax paid by consumers minus the portion paid by producers.
D) the total tax revenue minus the output loss caused by the tax.
28. Overall, the U.S. tax system (combined Federal, state, and local) is: A) highly progressive.
B) slightly progressive.
C) slightly regressive.
D) highly regressive.
29. Which of the following best reflects the ability-to-pay philosophy of taxation? A) a tax on residential property
B) a progressive income tax
C) an excise tax on gasoline
D) an excise tax on coffee
30. The Federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the: A) ability-to-pay principle of taxation.
B) benefits-received principle of taxation.
C) single-tax theory of taxation.
D) pay-as-you go theory of taxation.

A progressive tax is such that: A) tax rates are higher the greater one's income.
B) the same tax rate applies to all income receivers, so that the rich pay absolutely more taxes than the poor.
C) entrepreneurial income is exempt from taxation.
D) the revenues it yields are spent on transfer payments.
19. The ability-to-pay principle of taxation: A) has been declared unconstitutional because it deprives individuals of property without due process of law.
B) suggests that people should pay taxes in proportion to the benefits they derive from public goods and services.
C) suggests that taxes should vary directly with people's income and wealth.
D) suggests that taxes should vary inversely with people's income and wealth.
20. The U.S. tax-transfer system (as distinct from the tax system alone) is: A) progressive.
B) proportional.
C) bimodal.
D) regressive.
21. Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional $10,000 of income is: A) 5 percent.
B) 12 percent.
C) 35 percent.
D) 42 percent.
22. Which of the following taxes is least likely to be shifted? A) a state excise tax on the sellers of football tickets
B) a personal income tax
C) a general sales tax on retailers who sell foodstuffs and clothing
D) a Federal excise tax on the producers of whiskey
23. Which of the following is an exhaustive governmental outlay? A) a Federal $5,000 subsidy check to an Illinois farmer
B) a Temporary Assistance to Needy Families payment made by the state of New York
C) a NASA payment to Boeing Corporation for space hardware
D) a Federal old age insurance payment to a retired coal miner
24. In 2008, U.S. governments (local, state, and Federal) employed approximately how many million workers? A) 9.2
B) 13.0
C) 19.4
D) 22.5
25. Proprietary income refers to: A) revenue flowing to the government from taxes.
B) money borrowed by the government to finance its operations.
C) revenue generated by government-run businesses.
D) transfer payments from the government to the owners of property resources.
26. The basic tax rate on taxable corporate income is: A) 15 percent.
B) 22 percent.
C) 35 percent.
D) 52 percent.
27. The efficiency loss of a tax is: A) the net value of sacrificed output caused by the tax.
B) that portion of the tax paid by producers minus the portion paid by consumers.
C) that portion of the tax paid by consumers minus the portion paid by producers.
D) the total tax revenue minus the output loss caused by the tax.
28. Overall, the U.S. tax system (combined Federal, state, and local) is: A) highly progressive.
B) slightly progressive.
C) slightly regressive.
D) highly regressive.
29. Which of the following best reflects the ability-to-pay philosophy of taxation? A) a tax on residential property
B) a progressive income tax
C) an excise tax on gasoline
D) an excise tax on coffee
30. The Federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the: A) ability-to-pay principle of taxation.
B) benefits-received principle of taxation.
C) single-tax theory of taxation.
D) pay-as-you go theory of taxation.

A progressive tax is such that: A) tax rates are higher the greater one's income.
B) the same tax rate applies to all income receivers, so that the rich pay absolutely more taxes than the poor.
C) entrepreneurial income is exempt from taxation.
D) the revenues it yields are spent on transfer payments.
A progressive tax is such that: A) tax rates are higher the greater one's income.
B) the same tax rate applies to all income receivers, so that the rich pay absolutely more taxes than the poor.
C) entrepreneurial income is exempt from taxation.
D) the revenues it yields are spent on transfer payments.
A progressive tax is such that: 19. The ability-to-pay principle of taxation: A) has been declared unconstitutional because it deprives individuals of property without due process of law.
B) suggests that people should pay taxes in proportion to the benefits they derive from public goods and services.
C) suggests that taxes should vary directly with people's income and wealth.
D) suggests that taxes should vary inversely with people's income and wealth.
19. The ability-to-pay principle of taxation: A) has been declared unconstitutional because it deprives individuals of property without due process of law.
B) suggests that people should pay taxes in proportion to the benefits they derive from public goods and services.
C) suggests that taxes should vary directly with people's income and wealth.
D) suggests that taxes should vary inversely with people's income and wealth.
The ability-to-pay principle of taxation: 20. The U.S. tax-transfer system (as distinct from the tax system alone) is: A) progressive.
B) proportional.
C) bimodal.
D) regressive.
20. The U.S. tax-transfer system (as distinct from the tax system alone) is: A) progressive.
B) proportional.
C) bimodal.
D) regressive.
The U.S. tax-transfer system (as distinct from the tax system alone) is: 21. Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional $10,000 of income is: A) 5 percent.
B) 12 percent.
C) 35 percent.
D) 42 percent.
21. Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional $10,000 of income is: A) 5 percent.
B) 12 percent.
C) 35 percent.
D) 42 percent.
Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional $10,000 of income is: 22. Which of the following taxes is least likely to be shifted? A) a state excise tax on the sellers of football tickets
B) a personal income tax
C) a general sales tax on retailers who sell foodstuffs and clothing
D) a Federal excise tax on the producers of whiskey
22. Which of the following taxes is least likely to be shifted? A) a state excise tax on the sellers of football tickets
B) a personal income tax
C) a general sales tax on retailers who sell foodstuffs and clothing
D) a Federal excise tax on the producers of whiskey
Which of the following taxes is least likely to be shifted? 23. Which of the following is an exhaustive governmental outlay? A) a Federal $5,000 subsidy check to an Illinois farmer
B) a Temporary Assistance to Needy Families payment made by the state of New York
C) a NASA payment to Boeing Corporation for space hardware
D) a Federal old age insurance payment to a retired coal miner
23. Which of the following is an exhaustive governmental outlay? A) a Federal $5,000 subsidy check to an Illinois farmer
B) a Temporary Assistance to Needy Families payment made by the state of New York
C) a NASA payment to Boeing Corporation for space hardware
D) a Federal old age insurance payment to a retired coal miner
Which of the following is an exhaustive governmental outlay? 24. In 2008, U.S. governments (local, state, and Federal) employed approximately how many million workers? A) 9.2
B) 13.0
C) 19.4
D) 22.5
24. In 2008, U.S. governments (local, state, and Federal) employed approximately how many million workers? A) 9.2
B) 13.0
C) 19.4
D) 22.5
In 2008, U.S. governments (local, state, and Federal) employed approximately how many million workers? 25. Proprietary income refers to: A) revenue flowing to the government from taxes.
B) money borrowed by the government to finance its operations.
C) revenue generated by government-run businesses.
D) transfer payments from the government to the owners of property resources.
25. Proprietary income refers to: A) revenue flowing to the government from taxes.
B) money borrowed by the government to finance its operations.
C) revenue generated by government-run businesses.
D) transfer payments from the government to the owners of property resources.
Proprietary income refers to: 26. The basic tax rate on taxable corporate income is: A) 15 percent.
B) 22 percent.
C) 35 percent.
D) 52 percent.
26. The basic tax rate on taxable corporate income is: A) 15 percent.
B) 22 percent.
C) 35 percent.
D) 52 percent.
The basic tax rate on taxable corporate income is: 27. The efficiency loss of a tax is: A) the net value of sacrificed output caused by the tax.
B) that portion of the tax paid by producers minus the portion paid by consumers.
C) that portion of the tax paid by consumers minus the portion paid by producers.
D) the total tax revenue minus the output loss caused by the tax.
27. The efficiency loss of a tax is: A) the net value of sacrificed output caused by the tax.
B) that portion of the tax paid by producers minus the portion paid by consumers.
C) that portion of the tax paid by consumers minus the portion paid by producers.
D) the total tax revenue minus the output loss caused by the tax.
The efficiency loss of a tax is: 28. Overall, the U.S. tax system (combined Federal, state, and local) is: A) highly progressive.
B) slightly progressive.
C) slightly regressive.
D) highly regressive.
28. Overall, the U.S. tax system (combined Federal, state, and local) is: A) highly progressive.
B) slightly progressive.
C) slightly regressive.
D) highly regressive.
Overall, the U.S. tax system (combined Federal, state, and local) is: 29. Which of the following best reflects the ability-to-pay philosophy of taxation? A) a tax on residential property
B) a progressive income tax
C) an excise tax on gasoline
D) an excise tax on coffee
29. Which of the following best reflects the ability-to-pay philosophy of taxation? A) a tax on residential property
B) a progressive income tax
C) an excise tax on gasoline
D) an excise tax on coffee
Which of the following best reflects the ability-to-pay philosophy of taxation? 30. The Federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the: A) ability-to-pay principle of taxation.
B) benefits-received principle of taxation.
C) single-tax theory of taxation.
D) pay-as-you go theory of taxation.

30. The Federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the: A) ability-to-pay principle of taxation.
B) benefits-received principle of taxation.
C) single-tax theory of taxation.
D) pay-as-you go theory of taxation.
The Federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the:
A progressive tax is such that: A) tax rates are higher the greater one's income.
B) the same tax rate applies to all income receivers, so that the rich pay absolutely more taxes than the poor.
C) entrepreneurial income is exempt from taxation.
D) the revenues it yields are spent on transfer payments.
19. The ability-to-pay principle of taxation: A) has been declared unconstitutional because it deprives individuals of property without due process of law.
B) suggests that people should pay taxes in proportion to the benefits they derive from public goods and services.
C) suggests that taxes should vary directly with people's income and wealth.
D) suggests that taxes should vary inversely with people's income and wealth.
20. The U.S. tax-transfer system (as distinct from the tax system alone) is: A) progressive.
B) proportional.
C) bimodal.
D) regressive.
21. Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional $10,000 of income is: A) 5 percent.
B) 12 percent.
C) 35 percent.
D) 42 percent.
22. Which of the following taxes is least likely to be shifted? A) a state excise tax on the sellers of football tickets
B) a personal income tax
C) a general sales tax on retailers who sell foodstuffs and clothing
D) a Federal excise tax on the producers of whiskey
23. Which of the following is an exhaustive governmental outlay? A) a Federal $5,000 subsidy check to an Illinois farmer
B) a Temporary Assistance to Needy Families payment made by the state of New York
C) a NASA payment to Boeing Corporation for space hardware
D) a Federal old age insurance payment to a retired coal miner
24. In 2008, U.S. governments (local, state, and Federal) employed approximately how many million workers? A) 9.2
B) 13.0
C) 19.4
D) 22.5
25. Proprietary income refers to: A) revenue flowing to the government from taxes.
B) money borrowed by the government to finance its operations.
C) revenue generated by government-run businesses.
D) transfer payments from the government to the owners of property resources.
26. The basic tax rate on taxable corporate income is: A) 15 percent.
B) 22 percent.
C) 35 percent.
D) 52 percent.
27. The efficiency loss of a tax is: A) the net value of sacrificed output caused by the tax.
B) that portion of the tax paid by producers minus the portion paid by consumers.
C) that portion of the tax paid by consumers minus the portion paid by producers.
D) the total tax revenue minus the output loss caused by the tax.
28. Overall, the U.S. tax system (combined Federal, state, and local) is: A) highly progressive.
B) slightly progressive.
C) slightly regressive.
D) highly regressive.
29. Which of the following best reflects the ability-to-pay philosophy of taxation? A) a tax on residential property
B) a progressive income tax
C) an excise tax on gasoline
D) an excise tax on coffee
30. The Federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the: A) ability-to-pay principle of taxation.
B) benefits-received principle of taxation.
C) single-tax theory of taxation.
D) pay-as-you go theory of taxation.

Explanation / Answer

18) A progressive tax is such that:

A) tax rates are higher the greater one's income.

19) The ability-to-pay principle of taxation:

C) suggests that taxes should vary directly with people's income and wealth.

20)The U.S. tax-transfer system (as distinct from the tax system alone) is

A) progressive

21) Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional $10,000 of income is:

C) 35 percent

22) Which of the following taxes is least likely to be shifted?

C) a general sales tax on retailers who sell foodstuffs and clothing

23) Which of the following is an exhaustive governmental outlay?

B) a Temporary Assistance to Needy Families payment made by the state of New York

24) In 2008, U.S. governments (local, state, and Federal) employed approximately how many million workers?

B) 13.0

25) Proprietary income refers to:

B) money borrowed by the government to finance its operations.

26)The basic tax rate on taxable corporate income is:

A) 15 percent.

27) The efficiency loss of a tax is:

C) that portion of the tax paid by consumers minus the portion paid by producers.

28) Overall, the U.S. tax system (combined Federal, state, and local) is:

B) slightly progressive.

29)Which of the following best reflects the ability-to-pay philosophy of taxation?

B) a progressive income tax

30) The Federal gasoline tax is assessed on a per-gallon basis and the proceeds are used for highway maintenance and improvements. This tax is consistent with the:

B) benefits-received principle of taxation.

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