Explain the potential supply-side effects of a VAT on the U.S. economy. Value-added tax (VAT) is a
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Explain the potential supply-side effects of a VAT on the U.S. economy.
Value-added tax (VAT) is a tax on goods and servicesat every stage of the production process rather than asingle tax at the end. VATs are not used in the UnitedStates but they are the third-largest revenue producerfor countries in the Organisation for Economic Cooperation and Development.
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A VAT is a tax on a producers total revenue minus the cost of inputs purchased from ot...View the full answer
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