An efficient tax is
A) a tax that raises a maximum amount of revenue.
B) a tax that imposes a small excess burden relative to the tax revenue that it raises.
C) a tax that imposes an equal tax burden on buyers and sellers.
D) a tax that is used to fund research and development of new technology.
B
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Kelly graduates and her income increases by $25,000 a year. Other things remaining the same, she increases the quantity of clothes she buys. For Kelly, clothes are ________
A) an inferior good B) a normal good C) a substitute good D) a complement good
A Commodity X will be considered as a normal good if:
a. the quantity of the good consumed decreases with an increase in income. b. the quantity of the good consumed increases with an increase in income. c. the quantity of the good consumed increases in the same proportion as the increase in income. d. the quantity of the good consumed reflects no change with a change in income.
All else constant, the quantity of labor supplied is inversely related to the amount of training required for a job
a. True b. False
ABC Hospital's scores in the top 5% of PA Hospitals for quality performance by December 2018.
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