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Q: If the government doubled the tax on gasoline, would the tax revenues increase or decrease? Why? Use graphs as needed and explain your answers thoroughly
A: Other things being equal, if the government doubled the tax, tax revenues would increase. But of course, this is just theoretically true. As gasoline taxes would increase, the quantity demanded MIGHT decrease. [ So, in reality, the first statement is not absolutely true. ]
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Original conversation
User: If the government doubled the tax on gasoline, would the tax revenues increase or decrease? Why? Use graphs as needed and explain your answers thoroughly

Weegy: Other things being equal, if the government doubled the tax, tax revenues would increase. But of course, this is just theoretically true. As gasoline taxes would increase, the quantity demanded MIGHT decrease. [ So, in reality, the first statement is not absolutely true. ]
Expert answered|nami008|Points 252|

User: What are the gains and losses of international trade? What happens when tariffs are imposed, in terms of the importing and exporting countries? Use graphs as needed and explain your answers thoroughly.

Weegy: One of the gains and losses that I can think of is the Forex gains and losses. The exchange rates vary from time to time. This leads to gains and losses depending on the strength of a currency. [ This is applicable to International trade because there is no universal currency, that is why if you will transact with other countries, you will have to incur FOREX gains or losses. If tariffs will be imposed, it is possible that the demand would decrease as tariffs are extra charges, meaning an additional cost. ]
Expert answered|nami008|Points 252|



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Asked 8/2/2013 6:48:21 AM
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