marginal of a given activity.
c. Economists refer to the revenue collected as a result of a
tax as the burden of taxation. Economists refer to
other costs imposed on society because of the tax as the
burden of taxation.
d. An efficient tax system is one that collects a given amount
of revenue while minimizing the amount of.
e. The Laffer curve suggests that above some tax rate,
further increases in the tax rate will tax revenue.
3. Fill in the blanks to make the following statements correct.
a. Canada has different fiscal authorities, in the form of
federal, provincial, territorial, and municipal
governments. The coordination of the taxing and
spending powers of these governments gives rise to our
system of. One of the guiding principles of this
system is that individuals, no matter where they live in
Canada, should have access to a comparable level and
quality of and should face approximately the
same.
b. The two major programs by which cash is transferred
from Canada’s federal government to provincial
governments are and.
c. What are the five pillars of Canada’s social policy?
