A Tax That Is Placed on the Quantity of the Item

question 127

Multiple Choice

A tax that is placed on the quantity of the item being purchased,such as gallons of it,is called a(n)

• A)Income tax.
• B)Property tax.
• C)Excise tax.
• D)None of the choices are correct.

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Definitions:

Total Output

The total value of all goods and services produced in an economy during a specific period.

Workers

Individuals engaged in any form of employment, contributing labor for the production of goods and services.

ATC

Average Total Cost, a term in economics that refers to the total cost per unit of output, calculated by dividing the total cost by the quantity of output produced.

Surveillance System

An integrated system designed to monitor and collect data on activities or changes in an area or environment, often used for security purposes.