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Questions and Answers
What is the primary purpose of taxation according to the text?
What is the primary purpose of taxation according to the text?
- To collectively fund government spending and public expenditures (correct)
- To encourage savings and investment
- To ensure fair distribution of wealth among citizens
- To regulate and reduce negative externalities
When did the first known taxation take place?
When did the first known taxation take place?
- Around 3000–2800 BC in Ancient Egypt (correct)
- Around 500–300 BC in Ancient Greece
- Around 500–300 AD in Roman Empire
- Around 1000–800 BC in Mesopotamia
What types of taxes do most countries charge according to the text?
What types of taxes do most countries charge according to the text?
- Tax on imports and exports
- Tax on capital gains and dividends
- Tax on property and sales
- Tax on individual income and corporate income (correct)
What does tax compliance refer to?
What does tax compliance refer to?
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What is the economic effect of taxation in terms of the circular flow of income?
What is the economic effect of taxation in terms of the circular flow of income?
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