ECN 104 Chapter 12: Chapter 12 - The Design of the Tax System

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amethystgoat54

11 Feb 2012

School

Ryerson University

Department

Economics

Course

ECN 104

Professor

Tsogbadral Galaabaatar

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Document Summary

one of the ten principles from chapter 1: to perform its many functions, the govt raises revenue through taxation. political power divided between federal government and provincial governments. Local and municipal governments are granted powers by the provincial government. matters of national interest: national defence and foreign policy, international trade, competition policy, criminal law and money and banking. delivery of some national social programs, e. g. , employment insurance (ei) and. health care, education, welfare, natural resources within their boundaries, and civil law. extensive taxing powers, but less than federal government. account for more than half of activities by the public sector in canada. the marginal tax rate is the tax rate applied to each additional dollar of income. higher-income individuals pay a larger percentage of their income in taxes. provincial and local governments collect more than 50% of taxes in the economy.

Related Questions

Government purchases include spending on goods and services by:

A) Local, state, and federal governments.

B) The federal government only.

C) Local and state governments, but not the federal government.

D) State and federal governments only.

marooncamel659

During the fall of 2007, the United States economy began a descent into deep recession. As a result, the federal government and the Federal Reserve took action to stimulate economic growth. Which of the following would have been an appropriate fiscal policy? There could be more than one answer! Please be 100% sure on this question:)

A. the Federal Reserve increasing the money supply to reduce the interest rate

B. the federal government providing tax refunds to all taxpayers

C. the federal government increasing its regulation of banks

D. the federal government spending more money to build more infrastructures

E. the federal government beginning to close failing banks.