Need help with some econ work. I wanna study before our big final and need some explanation along the way. Please refer to the photos below, be clear, and answer all the questions. Thank you so much!!!

PERM!" 8. 9. TAX Study Guide The Phrase Incidence of a tax refers to Trickle down economics also called voodoo economics Write offs for large durable goods that helped business. This allowed for the purchase of tools and equipment which allowed to reduce the tax burden The authority to tax Adjustments of tax brackets to offset the effects of inflation. A Tax on each stage of production This tax is placed on investments. The largest tax revenue for the United States 10. According to the Constitution, for what purpose can governments collect taxes 11. A the income, property, good or service that is subject to a tax. 12. IS the federal individual income tax proportional, progressive or regressive? 13. What are the four characteristics economists believe a tax should possess? 14. Draw a supply 3.: demand graph that shows the effect of a tax when the demand for the good being taxed is inelastic. 15. 15. Draw a supply 32. demand graph that shows the effect of a tax when the demand for the good being taxed is elastic. 16. Set amounts that subtract from your gross income. 17. Which govemment agency is the collector of taxes. 13. President Reagan believed that high taxes were a. Deterrent to economic growth b. The cause of economic stability c. Good for prosperity d. Good for businesses only 19. Accelerated depreciation reduces taxes for Individuals Businesses College students Nonprot organizations FL!" 13"!\" 20.. A tax deduction for the purchases of machinery is called a. Investment Tax credit b. Alternative tax c. Sales tax d. Excise Tax