New York has the highest cigarette taxes in the country. The price of an average pack of

Question:

New York has the highest cigarette taxes in the country. The price of an average pack of cigarettes in New York City is $13. The combined state and city taxes are $5.85 a pack. The average income of smokers is less than that of nonsmokers

Is this tax on cigarettes a progressive, regressive, or proportional tax?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Foundations Of Economics

ISBN: 9780135897478

9th Edition

Authors: Robin Bade, Michael Parkin

See More Books

Question Posted: Dec 29, 2022 07:56 AM

See More Questions

New York City has the highest cigarette taxes in the country. During the four months following the recent tax hike, sales of taxed cigarettes in the city fell by more than 50 percent as consumers...
New York has the highest cigarette taxes in the country. The price of an average pack of cigarettes in New York City is $13. The combined state and city taxes are $5.85 a pack. The average income of...
New York has the highest cigarette taxes in the country. The price of an average pack of cigarettes in New York City is $13. The combined state and city taxes are $5.85 a pack. The average income of...
In 2006, Walmart was operating more than 6,500 stores with 1.8 million employees around the world. In the early 1990s, Walmart Stores Inc. expanded into Canada, with the purchase of 122 stores from...
An eight-team single-elimination tournament is set up as follows: For example, eight students (called AH) setup a tournament among themselves. The top-listed student in each bracket calls heads or...
How do biogeochemical cycles, such as the nitrogen and carbon cycles, integrate ecological processes across different temporal and spatial scales, and what are the implications of human-induced...
Explain with the neat sketch, working of the two-stroke petrol engine.
(1) What sources of capital should be included when you estimate Harry Daviss weighted average cost of capital (WACC)? (2) Should the component costs be figured on a before-tax or an after-tax basis?...
Ali, a small company, is currently considering a major capital investment project for which additional finance will be required. It is not currently feasible to raise additional equity finance;...
1. What kind of corporate-level strategies did News Corp pursue to build its multi business models? 2. What are the advantages and disadvantages associated with these strategies? This case details...
If the government imposes a new tax on plastic bags, ______. A. Total surplus from bags shrinks by more than the amount of tax collected B. Total surplus from bags shrinks by the amount of the tax...
Concerned about the political fallout from rising gas prices, the government cuts the tax on gasoline. Explain the effect of this tax cut on the price of gasoline and the quantity bought if, at the...
The following financial data were adapted from the annual report of Best Buy Inc. for the period ending February 28, 2009: In Millions Accounts payable. $ 4,997 Capital stock. 442 Cash ....... 498...
3. Hung Huynh is a nurse at the public hospital Gotham Health Services (GHS) and very much unhappy with the work conditions in the hospital since the pandemic hit. Hung Huynh and his partner, Leo a...
Name three similarities and three differences between an NPO and a share capital corporation.
What is a good response to the following post made by a classmate? The Scrum Master works to ensure that the development goes smoothly by removing obstacles to development. They also plan the next...
How does studying criminal and civil law help us become better employers, employees, and members of society? What are some examples of laws that make operating a business more difficult? What changes...
A firm requires an investment of $30,000 and borrows $20,000 at 9%. If the required return on equity is 15% and the tax rate is 30%, what is the firm's WACC?
Suppose that a brass rod 1.0 m long expands 0.5 cm when its temperature is increased a certain amount. By how much will a brass rod 100 m long expand with the same change of temperature?
State whether each of the following will increase or decrease the power of a one-way between-subjects ANOVA. (a) The effect size increases. (b) Mean square error decreases. (c) Mean square between...
Is the $821 billion that the government would spend on incentive programs and compensation for higher energy prices part of the opportunity cost of producing electricity? Use the following...
Is the $821 billion that the government would spend on incentive programs and compensation for higher energy prices part of the opportunity cost of producing electricity? Use the following...
Is the $821 billion that the government would spend on incentive programs and compensation for higher energy prices part of the opportunity cost of producing electricity? Use the following...
What anatomical state is the golfer and a baseball player use when swinging during the initial downswing Explain.
1. A random draw lottery has sold $52 000 000 worth of tickets, with each ticket sold for $5.00. The prizes and their frequencies are shown in the following table. a) Copy and complete this table...
You are walking down a straight path in a park and notice there is another person walking some distance ahead of you. The distance between the two of you remains the same, so you deduce that you are...

New York has the highest cigarette taxes in the country. The price of an average pack of

Question:

Step by Step Answer:

The tax is regressive Rich...View the full answer

Foundations Of Economics

Students also viewed these Business questions