If a Tax Is Imposed on a Good with Equally

question 54

Multiple Choice

If a tax is imposed on a good with equally elastic supply and demand,the burden of the tax will be borne

• A) by consumers and producers equally.
• B) by consumers alone.
• C) by producers alone.
• D) mostly by consumers but partially by producers.
• E) mostly by producers but partially by consumers.

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Definitions:

Global Economy

The interconnected worldwide economic activities that determine the production, distribution, and consumption of goods and services across different countries.

Assembly

The act of gathering or coming together of a group of people, typically for a specific purpose or action.

Increased Employment

A situation or condition where the number of people who are employed grows, indicating economic growth or recovery.

Unemployment

The condition of being without paid employment, but actively seeking work.