Asked by
Khushboo Sharma
on Nov 26, 2024Verified
A nation's "tax burden" is measured by the
A) total amount of tax dollars paid by the citizens.
B) average tax rate on taxable income in the nation.
C) government's tax revenues as a percentage of GDP.
D) average of personal-income and corporate-income tax rates.
Tax Burden
The total amount of taxes that individuals, corporations, or other entities are legally obligated to pay to governmental authorities.
GDP
Gross Domestic Product; the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
- Comprehend the concept of a nation's tax burden and how it is calculated.
Verified Answer
NK
Learning Objectives
- Comprehend the concept of a nation's tax burden and how it is calculated.