What Is a Value-Added Tax? Where Is This Type of Tax

question 56

Essay

What is a value-added tax? Where is this type of tax in wide usage? Why do you suppose this form of taxation has NOT been widely accepted in the United States?

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Definitions:

Standard Form

A way of writing very large or very small numbers using powers of ten, or a polynomial with terms written in descending order of degree.

Complex Number

A number that can be expressed in the form \(a + bi\), where \(a\) and \(b\) are real numbers, and \(i\) is the imaginary unit satisfying \(i^2 = -1\).

Additive Inverse

A number that when added to a given number results in a sum of zero; essentially, the negative counterpart of a number.

Quotient

The result obtained when one quantity is divided by another.