A Tax on the Value of a Good or Service

question 151

Multiple Choice

A tax on the value of a good or service being purchased is called a(n) :

• A)sales tax.
• B)payroll tax.
• C)personal income tax.
• D)excise tax.

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Definitions:

Sensory Memory

The shortest-term element of memory, it allows individuals to retain impressions of sensory information after the original stimuli have ended.

Procedural Memory

A form of memory that lasts for a long duration, which encompasses the instinctual recall of techniques and procedures.

Working Memory

The component of short-term memory responsible for the immediate, conscious processing of perceptual and linguistic information.

Mnemonics

Memory aids, especially those techniques that use vivid associations or patterns of letters, ideas, or relational concepts to facilitate the recall of information.