Match each term in Column A with its definition in Column B. (Column A)
1. excise tax
2. sales tax
3. indirect tax
4. protective tariff
5. ability-to-pay
6. regressive tax
7. payroll tax
8. personal income
tax
9. progressive tax
10. corporate
income tax
11. property tax
(Column B)
a. a tax that takes a larger percentage of a low
income than of a high income
b. the principle that those who can best afford to
pay taxes should do so
c. a tax on the manufacture or sale of a specific
good or service
d. a tax paid by homeowners
e. a tax on the earnings of corporations
f. a local or state tax levied on a wide range of
consumer items
g. an income tax on the earnings of individuals
h. a high tax on foreign-made goods to discourage
their purchase
i. a hidden tax
j. a tax that takes a larger percentage of a high
income than of a low income
k. a tax that finances the nation's Social Security
program.

Respuesta :

Answer:

1. c

2. f

3. i

4. h

5. b

6. a

7. k

8. g

9. j

10.e

11. d

Explanation:

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1. Excise tax β‡’c). a tax on the manufacture or sale of a specific good or service,

2. sales tax β‡’ f). a local or state tax levied on a wide range of consumer items,

3. indirect tax β‡’ i). a hidden tax,

4. protective tariff β‡’ h). a high tax on foreign-made goods to discourage their purchase,

5. ability-to-pay β‡’b). the principle that those who can best afford to pay taxes should do so,

6. regressive tax β‡’ a. a tax that takes a larger percentage of a low income than of a high income,

7. payroll tax β‡’ k. a tax that finances the nation's Social Security program,

8. personal income tax β‡’ g. an income tax on the earnings of individuals,

9. progressive tax β‡’ j. a tax that takes a larger percentage of a high income than of a low income,

10. corporate income tax β‡’ e. a tax on the earnings of corporations,

11. property tax β‡’d. a tax paid by homeowners

What is a tax?

A tax is a compulsory financial charge or a kind of levy that is imposed on a taxpayer by a governmental organization.

It is an amount that an individual has to pay according to their income, the value of their property, etc.

Tax is used to pay for the things done by the government.

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