taxes and subsidies
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6 Terms
1
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Direct tax and examples
Taxes on income, wealth and profits- income tax, corporate tax
2
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Indirect tax
Are on goods and services- vat- ad valoream, excise duties
3
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Ad valoeram diagram - percentage added
Shift in supply left, slanted slightly up, difference in lines 20 percent
4
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5
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6
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Note 
Flashcards (41)