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    The Ramifications of Higher Gasoline Taxes

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    One thing governments do well is collect taxes. Taxes are a policy instrument that raise revenue and can control behavior through economic or market pressures.
    * What would some of the costs be to the public resulting from a higher tax on gasoline?
    * How would a forecast of public demands change with rising taxes on gasoline?
    * How would you analyze the political feasibility of increasing taxes on gasoline?

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    Solution Preview

    The major cost to the public resulting from a higher tax on gasoline, would be the obvious increase in the prices at the pump at the public would have to pay due to the higher tax on gasoline that petroleum companies would have to pay, and this cost would be transferred to the public. In ...

    Solution Summary

    The ramification of higher gasoline taxes are examined.