Recall the Application That Questions If the United States Can

question 141

Multiple Choice

Recall the Application that questions if the United States can or should adopt a value-added tax (VAT) to answer the following question(s) . The value-added tax is essentially a sales tax that is levied on each stage of production. Firms pay the value added tax on their sales and then receive a credit for value-added taxes paid by their suppliers. Unlike a sales tax, the value-added tax is embedded in the price of goods.
-Recall the Application. One difference between a value-added tax and an income tax is the value-added tax

• A) is difficult to collect.
• B) is not a consumption tax.
• C) does not penalize individuals who save.
• D) is a progressive tax.

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Definitions:

Puffery

The use of exaggerated or vague statements in advertising or sales that are subjective and not expected to be taken literally, used to create appeal without making concrete claims.

Sales Presentation

A pitch or communication aimed at convincing potential buyers to purchase a product by highlighting its benefits and value.

Visual Aid

An item of illustrative matter, such as a film, slide, or model, designed to supplement written or spoken information so that it can be understood more easily.

Actual Product

The tangible good or service offered to customers, encompassing its features, quality, branding, and packaging.