A Consumption Tax Levied on the Increase in the Value

question 7

Multiple Choice

A consumption tax levied on the increase in the value of a good at each stage of production is called a(n) :

• A) expenditure tax.
• B) cash-flow tax.
• C) flat tax.
• D) value-added tax.

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Definitions:

Norms

Accepted standards of behavior within a group or society.

Guidelines

A set of recommendations or principles given to direct action or to determine a course of action.

Social Institution

Established systems of societal norms and structures that govern the behavior and practices of individuals within a community, such as family, religion, and education.

U.S. Census Bureau

The federal agency responsible for collecting and analyzing data about the American people and economy, primarily known for conducting the decadal census.