5. The following tax bases/tax groups exist a. Wealth taxes b. Consumption taxes

Question

5. The following tax bases/tax groups exist a. Wealth taxes b. Consumption taxes c. Bitcoin taxes d. Goverment expenditure taxes 6. Public debt a s absolute and relative b. s diminished relatively by inflation and GDP growth c. Has to be repaid back at all costs very quickly d. s today very low in most OECD countries, below 50 percent GDP 7. Government Debt service is a. Asum of interests that has to be paid annually from public debt b. Asum of all deficits that government made C. Transferred to selected citizens who are the richest d. A service to indebted people 8 According to their effect to different tax payers/incomes, taxes can be a. Progressive b Agressive c. Regressive d. Hyperbolic 9. Which examples of taxes do you know (at least 4)? 9 9 9

Explanation / Answer

5. (a)(Wealth Tax) Wealth Tax does exist and it is taxed to individuals by the government on the basis of its wealth possessed.

6. (a) Public debt could be measured in two ways (i) Absolute and (ii) Relative size.

7. (a) Government debt service refers to the repayment of interest and principal over a period of time.

8. (a) According to the effect of taxes on the individual incomes....Taxes are progressive, that is taxes increase with the rise in level of income of individuals.

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