The incidence of a tax refers to
A) the division of the burden of a tax between buyers and sellers.
B) the deadweight loss that a tax generates.
C) the inefficiency of a tax.
D) the revenue collected by government because of a tax.
E) the division of the burden of a tax between the public and the government.
A
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Politicians often highlight the plight of a single individual as a reason to support a particular project or agenda. In this case, politicians are often engaged in
A) the Allais effect. B) the Byrd effect. C) framing. D) prospect theory.
Discuss the three ranges of the aggregate supply (AS) curve. What could cause the AS curve to shift to the left? What impact would a leftward shift of the AS curve have on the economy?
Which of the following about inflation is true?
a. High rates of inflation are usually associated with wide year-to-year changes in inflation. b. High rates of inflation are usually associated only with very large countries such as the United States. c. High rates of inflation are usually associated only with smaller countries such as Costa Rica. d. High rates of inflation will generally improve the economic efficiency of an economy.
Economic policies often have effects that their architects did not intend or anticipate
a. True b. False Indicate whether the statement is true or false