Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.
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Transcript of Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.
![Page 1: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/1.jpg)
![Page 2: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/2.jpg)
Concepts 1 Concepts 2 Name That Externality Misc Tax Terms &
Graphs
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Question 1 - 10
• The amount taken out of your paycheck every week is called….
![Page 4: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/4.jpg)
Answer 1 – 10
• Withholding.
![Page 5: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/5.jpg)
Question 1 - 20
• Give an example (not definition) of a free rider.
![Page 6: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/6.jpg)
Answer 1 – 20
![Page 7: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/7.jpg)
Question 1 - 30
• What is a free rider?
![Page 8: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/8.jpg)
Answer 1 – 30
• Benefits, doesn’t pay anything for what they use.
![Page 9: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/9.jpg)
Question 1 - 40
• A tax rate that increases as the tax base increases in an example of what kind of tax rate structure?
![Page 10: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/10.jpg)
Answer 1 – 40
• Progressive
![Page 11: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/11.jpg)
Question 1 - 50
• A tax rate that remains the same as the tax base increases in an example of what kind of tax rate structure?
![Page 12: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/12.jpg)
Answer 1 – 50
• Proportional
![Page 13: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/13.jpg)
Question 2 - 10
• A tax rate that decreases as income increases is known as….
![Page 14: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/14.jpg)
Answer 2 – 10
• Regressive
![Page 15: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/15.jpg)
Question 2 - 20
• The federal income tax is an example of which tax structure?
![Page 16: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/16.jpg)
Answer 2 – 20
• Progressive
![Page 17: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/17.jpg)
Question 2 - 30
• Which tax structure has the most negative effective on low income folks?
![Page 18: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/18.jpg)
Answer 2 – 30
• Regressive
![Page 19: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/19.jpg)
Question 2 - 40
• Sales tax is an example of which tax structure? Is there a second way to view the sales tax?
![Page 20: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/20.jpg)
Answer 2 – 40
• Regressive, proportional
![Page 21: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/21.jpg)
Question 2 - 50
• What is the largest source of federal revenue?
![Page 22: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/22.jpg)
Answer 2 – 50
• Personal income tax.
![Page 23: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/23.jpg)
Question 3 - 10
• List a negative externality of someone smoking next to you.
![Page 24: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/24.jpg)
Answer 3 – 10
![Page 25: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/25.jpg)
Question 3 - 20
• List a positive externality of planting flowers in the neighborhood.
![Page 26: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/26.jpg)
Answer 3 – 20
![Page 27: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/27.jpg)
Question 3 - 30
• List a negative externality of driving past a power plant.
![Page 28: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/28.jpg)
Answer 3 – 30
![Page 29: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/29.jpg)
Question 3 - 40
• What is a negative externality of driving?
![Page 30: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/30.jpg)
Answer 3 – 40
• Air pollution
![Page 31: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/31.jpg)
Question 3 - 50
• List a positive and negative externality of building an airport in Anthem.
![Page 32: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/32.jpg)
Answer 3 – 50
![Page 33: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/33.jpg)
Question 4 - 10
• A proportional tax is also known as a…
![Page 34: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/34.jpg)
Answer 4 – 10
• Flat tax.
![Page 35: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/35.jpg)
Question 4 - 20
• Give an example of regressive tax.
![Page 36: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/36.jpg)
Answer 4 – 20
• Social security, sales tax, excise tax on jewelry, etc.
![Page 37: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/37.jpg)
Question 4 - 30
• Corporate income tax falls under which tax structure?
![Page 38: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/38.jpg)
Answer 4 – 30
• Progressive.
![Page 39: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/39.jpg)
Question 4 - 40
• A tax on imports is called…
![Page 40: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/40.jpg)
Answer 4 – 40
• Tariffs
![Page 41: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/41.jpg)
Question 4 - 50
• What is a tax credit?
![Page 42: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/42.jpg)
Answer 4 – 50
• Money given to organizations that you later deduct from your taxable income.
![Page 43: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/43.jpg)
Question 5 - 10
• What are the characteristics of a good tax?
![Page 44: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/44.jpg)
Answer 5 – 10
• Simplicity, Equity, Efficiency, Certainty
![Page 45: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/45.jpg)
Question 5 – 20 – DAILY DOUBLE!!!
• List the roles of government in our economy.
![Page 46: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/46.jpg)
Answer 5 – 20
1. Maintaining the legal and social framework2. Providing public goods and services3. Maintaining competition4. Redistributing income5. Correcting for externalities6. Stabilizing the economy
![Page 47: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/47.jpg)
Question 5 - 30
• Draw a progressive tax graph.
![Page 48: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/48.jpg)
Answer 5 – 30
• Starts out low gets higher.
![Page 49: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/49.jpg)
Question 5 - 40
• Draw a regressive tax graph.
![Page 50: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/50.jpg)
Answer 5 – 40
• Starts high, goes low.
![Page 51: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/51.jpg)
Question 5 - 50
• Draw a proportional tax graph.
![Page 52: Concepts 1Concepts 2 Name That Externality Misc Tax Terms & Graphs 10 20 30 40 50.](https://reader035.fdocuments.in/reader035/viewer/2022070605/5a4d1ad37f8b9ab059971ee3/html5/thumbnails/52.jpg)
Answer 5 – 50
• Horizontal line.