The property tax wealth tax inheritance tax and income taxes such as persona and corporate taxes are ?
Correct answer: B. direct taxes
- A. indirect taxes
- B. direct taxes
- C. inelastic
- D. value-added tax
Explanation
Direct taxes are imposed directly on a person's income, wealth, property, or inheritance, and the taxpayer bears the liability. Indirect taxes, such as sales tax, are collected through transactions and can be shifted to consumers.
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About Public Finance
Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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