Question: One difference between sales and excise taxes is that a. sales taxes are only applied at the state level, while excise taxes are only applied

One difference between sales and excise taxes is that

a. sales taxes are only applied at the state level, while excise taxes are only applied at the federal level.

b. excise taxes apply to a wide range of products, while sales taxes apply only to a select list of products.

c. sales taxes are calculated as a percentage of the price paid, while excise taxes are levied on a per-unit basis.

d. excise taxes are calculated as a percentage of the price paid, while sales taxes are levied on a per-unit basis.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

Question 102pts Two similar properties in two different cities pay property taxes based on different tax rates. The property with the lowest tax rate invariable pays less in taxes than the property...

Q:

ECON 201 FALL 2022 (20 FORM C EXAM #4 Print Name SECTION E: MULTIPLE CHOICE (48 Points Pow/Mey: Mente respond to fifteen (15) of the following sheteen (16) questions by placing the letter of the...

Q:

FISCAL POLICY IN THEORY: March, 2020: we are on the verge of Congress and the President passing legislation that will empower the federal government to spend an unprecedented amount of EXTRA money...

Q:

The participant is LSD. Without that, the column affirms, there'd be no Grateful Dead, Carlos Santana, Jimi Hendrix, Doors, Beatles, or Pink Floyd. At least not as we now know them. The article...

Q:

QUESTION 2 Which of the following can contribute toward a phantom balance in an operating budget? a. Transfer operating expenses to the capital budget. b. Accelerate payment of income tax refunds. c....

Q:

Exam Question 22 Which of the following is true? A Net rents from tangible personal property are allocated to the state of commercial domicile even when the B C D taxpayer is taxable in the state in...

Q:

Please answer all questions below Instructions: Read the case study below, then answer the questions that follow. Ahmad (19 years old) sent an e-mail to Al-Nahar newspaper, expressing his interest in...

Q:

1. Perform a SWOT analysis for Intel's Costa Rica expansion. The attraction of foreign direct investment (FBI) constitutes a fundamental element to support strategies that aim to achieve sustained...

Q:

The participant is LSD. Without that, the column affirms, there'd be no Grateful Dead, Carlos Santana, Jimi Hendrix, Doors, Beatles, or Pink Floyd. At least not as we now know them. The article...

Q:

1. Perform a short SWOT analysis for Intel's Costa Rica expansion. 2. Discuss at least five Advantage for Costa Rica as a hosting country, be specific to what is mentioned in the case. 3. Critique...

Q:

An Associated Press story (August 25, 1998) about the lack of fluoride in most of the water supply in Utah quoted antifluoride activist Norma Sommer as claiming that fluoride may be responsible for...

Q:

Find the first 4 terms in the Taylor series for (x - 1)e* near x=1.

Q:

Coupon rates of municipal bonds are generally lower than coupon rates of corporate bonds of similar rating and maturity primarily because of differences in e . twation b . risk d . citi protection 2...

Q:

Gigantic Corporation follows a strategy of waiting for rivals to innovate, then quickly imitating any successful innovations. This behavior is known as Multiple Choice collusion. an entrepreneurial...

Q:

2. If you decide to create your own brand, what personal qualities will give you greater visibility, recognition, and acceptance in the labor market? These qualities should send the message, Pick me;...

Q:

1. Analyze your work or school environment. Identify the distractions that you face on a daily basis and defend or reject their relevance to your ability to critically think, problem solve, and...

Q:

2. Print out the most recent e-mails that you have sent or received and bring them to class. Analyze their effectiveness in terms of the e-mail tips in this chapter. Did the messages violate any of...