Question 3 1 pts Which tax is based on the value of the estate left behind when a person dies? 0 capital gains tax 0 estate tax 0 consumption tax 0 sales tax Question 7 1 pts What is the reduction in taxes owed from things such as spending on child care? 0 itemized deduction O standard deduction 0 tax credit Q exemption Question 8 1 pts Which of the following is a reason to deviate from the Haig-Simons comprehensive income definition because of correcting externalities? Medical expenses Imperfect information Charitable giving Consumer sovereignty Question 9 1 pts Which tax is paid on individual or household purchases of goods and services? capital gains tax individual income tax wealth tax consumption taxQuestion 11 1 pts Tax breaks that do not change the behavior of individuals is known as the while changes in behavior of individuals due to the policy change is known as the spending crowd-out, tax subsidy crowd-in marginal impacts, inframarginal impacts tax subsidy crowd-in, spending crowd-out inframarginal impacts, marginal impacts Question 12 1 pts What is the difference between individual income taxes and payroll taxes? O d. Individual income taxes are applied only on income earned up to a maximum value. a. Individual income taxes are applied to a more narrowly defined set of income sources. b. Individual income taxes are applied in many cases to the entire income of a family. O c. Individual income taxes are the primary means of financing social insurance programs.Question 1 3 1 pts Which tax is paid on individual income from sales of assets? 0 estate tax 0 capital gains tax 0 sales tax 0 excise tax Question 14 1 pts Vertical equity in the tax system likely requires what kind of taxation? 0 Progressive O Regressive Q Proportional Q Minimal