What are consumption taxes, and what is an example of a consumption tax?
What will be an ideal response?
Consumption taxes are taxes based on the consumption of individuals as opposed to an individual's income. Examples include sales taxes, value-added taxes, and luxury taxes.
Economics
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In the above table, the average propensity to save when disposable income is $5,000 is
A) -0.1. B) 0.1. C) 0.0. D) 0.2.
Economics
If expectations are formed rationally and wages are inflexible in the short run, the short-run aggregate supply curve is
A) upward sloping. B) horizontal. C) vertical. D) relatively flat.
Economics