From the list below, the best definition of the term 'excise tax' is

Question

BlackTom AI · Accepted Answer

An excise tax is a specific tax imposed on particular goods (for example tobacco, alcohol, fuel), typically charged per unit or as a percentage of value, and collected to raise revenue or to discourage consumption.

1. Relevant knowledge points and concepts
- Excise tax: a compulsory government levy applied to the production, sale or specific use of certain goods; often collected from sellers or producers and sometimes passed on to consumers in price.  
- Subsidy: a payment from government to encourage production or consumption (opposite effect to a tax).  
- Substitute and complement goods: economic relationships between products (alternatives vs. goods consumed together).

2. Step-by-step reasoning
- Compare each option against the standard definition of an excise tax.  
- Option a describes a government payment to encourage behaviour — that matches the definition of a subsidy, not a tax.  
- Option b defines a substitute good — unrelated to taxation.  
- Option c defines a complementary good — again unrelated to taxation.  
- Option d describes a compulsory financial contribution levied on sellers of a particular product, which aligns with how excise taxes are structured (levied on specific goods, compulsory, government revenue).

3. Calculations / intermediate steps
- No numerical calculation is required. The logical classification of terms suffices: tax vs subsidy vs product relationships.

4. Why the correct answer is correct
- Option d captures the essential features: compulsory, financial, government-imposed, and targeted at sellers of specific products — exactly what an excise tax is. Excise taxes are usually applied to particular goods and collected from businesses involved in producing or selling them.

5. Why the other options are incorrect
- a: Describes a subsidy (a payment to encourage behaviour), opposite to a tax.  
- b: Describes a substitute product (alternative), not a tax.  
- c: Describes a complementary product (consumed with another), not a tax.

6. Conclusion
- Therefore the best definition is option d: a compulsory financial contribution to the government, levied on sellers of a particular product. This matches the provided correct answer.

From the list below, the best definition of the term 'excise tax' is单项选择题

类似问题

So far, how many in-class activities have you completed? 16 or more

From the list below, the best definition of the word 'subsidy' is

An increase in a excise tax imposed on wine producers is likely to result in

Which of the following is true for a monopoly firm?

A perfectly competitive firm is said to be more efficient than a monopoly firm because

Economic profit is calculated by

Explicit costs are

What is the current Year? Express it in the format YYYY You can also test Respondus calculator (that may be available for your exam if the instructor enables it) by clicking on the icon in the browser toolbar.

更多留学生实用工具

智能学习助手

风格化写作助手

论文查重助手

文献引用助手

课堂转译助手

课堂笔记助手

Quiz搜索助手

学校历年真题

智能刷题助手

智能匹配练习

希望你的学习变得更简单