A tax imposed on the part of income that households spend is known as a
a. luxury tax
b. flat tax
c. consumption tax
d. income tax
e. value tax
C
Economics
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Governments should tax a market with an inelastic demand if the purpose of the government is to: a. increase its tax revenue
b. discourage the consumption of a good. c. increase the deadweight loss from the tax. d. discourage the production of a good.
Economics
A(n) ________ comes to an end with a business cycle ________
A) recession; peak B) recession; trough C) expansion; trough D) expansion; bubble
Economics