Week 3- Mises institute

Question 1

Price Control-

Answer 1

Gov’t enforces different price on market.

Question 2

Gov’t effort to raise money:

Answer 2

1. Taxation
2. Budget Deficit
3. Inflation

Question 3

Sales tax-

Answer 3

Gov’t consumption tax imposed on goods and services.

Question 4

Income tax-

Answer 4

Requires individual and corporation to transfer some of their income in certain period of gov’t.

Question 5

Graduated income tax-

Answer 5

Different portions of someone’s income are taxed at different rates.

Question 6

Tax-

Answer 6

Discourages production.