Question 11 Not yet answered Marked out of 0.50 Flag question Real property taxes are levied on the market value of the property by the local government Select one: a. TRUE b. FALSE Question 12 Not yet answered Marked out of 0.50 Flag question A tax is sufficient if it generates through funds to pay for the public goods and service provided by the government Select one: a. FALSE b. TRUE Question 13 Not yet answered Marked out of 0.50 Flag question Substitution effect means, the behavior reaction to a rate increase. Select one: a. FALSE b. TRUE Question 14 Not yet answered Marked out of 0.50 Flag question Static forecast is the straightforward math of the incremental revenue resulting from a change in income Select one: a. TRUE b. FALSE VAT is levied on the supply of goods and services by the buyer Select one: a. TRUE b. FALSE