Gold Is -----------Asset

question 9

Multiple Choice

Gold is -----------asset

• A)Financial asset
• B)Non financial asset
• C)Fictitious asset
• D)Intangible asset

---

Definitions:

Excise Tax

A targeted tax imposed on the sale of specific goods and services, such as alcohol, tobacco, and fuel.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market stability.

Progressivity

A characteristic of a tax system in which the tax rate increases as the taxable amount increases, placing a larger burden on high-income earners.

Federal Payroll Tax

Taxes imposed by the federal government on the wages of employees, which fund social security and Medicare programs.