Policymakers have the ability to affect:
A. the economic incidence of a tax burden on the buyer and seller.
B. the relative economic incidence of the tax burden on the rich and the poor.
C. whether the buyer or seller will bear the actual burden of the tax.
D. how the tax is shared between buyer and seller.
B. the relative economic incidence of the tax burden on the rich and the poor.
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A piece of evidence in favor the Keynesian model would be that
a. investment is very sensitive to changes in tax rates. b. changes in aggregate income cause changes in investment, but not vice versa. c. the aggregate price level is negatively correlated with income. d. all of the above.
Economic development around the globe will be affected by how society nurtures incentives to create new
a. ideas b. inventions c. only ideas and inventions d. only ideas and artistic creations e. ideas, inventions, and artistic creations
Predictions that natural resources such as oil will be essentially used up in the next few decades
a. have been frequently made for the past century but have always proven to be false. b. have usually been based on the quantity of proved reserves. c. have ignored the role of price in governing the quantities demanded and supplied. d. All of the above are correct.
Who in the adult population is counted as "employed" in U.S. labor statistics?
a. people who are temporarily absent from their job and people who work without pay in a family member's business b. people who are temporarily absent from their job but not people who work without pay in a family member's business c. people who work without pay in a family member's business but not people who are temporarily absent from their job d. neither people who are temporarily absent from their job nor people who work without pay in a family member's business