The allocation of tax burden
A. is the total tax burden less the excess burden.
B. is tax payments plus the excess burden.
C. is tax shifting.
D. is the tax incidence.
Answer: D
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The opportunity cost of labor is the time forgone for leisure
a. True b. False Indicate whether the statement is true or false
Which of the following explains the vicious circle of poverty?
a. By investing in education and infrastructure at the same time, the country can overcome the problems of poverty. b. Poverty arises out of the lack of investment, but they cannot invest because they are poor. c. A nation can shift its production possibilities curve inward by shifting more resources into the production of capital goods. d. A nation can shift its production possibilities curve outward by shifting more resources into the production of consumer goods.
The Celler-Kefauver Act of 1950:
A. established the FTC. B. closed down a loophole in the Clayton Act by outlawing mergers through the purchase of another firm's physical assets. C. closed down a loophole in the Sherman Act by outlawing mergers through the purchase of another firm's physical assets. D. banned tying contracts.
Why is there a significant difference in the pay of physicians and construction workers?
What will be an ideal response?