The Burden of a Tax on a Good Falls at Least

question 219

Multiple Choice

The burden of a tax on a good falls at least partially on consumers if the:

• A)price paid by consumers for the good declines.
• B)price paid by consumers for the good increases.
• C)wages received by workers who produce the good decline.
• D)wages received by workers who produce the good increase.

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Definitions:

Management

Management involves the processes of organizing, planning, directing, and controlling resources efficiently and effectively to achieve predetermined objectives.

Retained Earnings

The portion of a company's profits not distributed as dividends but retained for reinvestment in the business or to pay debt.