All Other Things Being Equal, Which of the Following Results

question 107

Multiple Choice

All other things being equal, which of the following results in the most tax burden for consumers in the case of a per-unit tax on a good?

• A)Perfectly elastic supply
• B)Relatively elastic supply
• C)Unit-elastic supply
• D)Relatively inelastic supply
• E)Perfectly inelastic supply

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Definitions:

Agreeableness

A personality trait characterized by warmth, friendliness, and compassion towards others, one of the dimensions of the Big Five personality traits.

Cultural Products

Items or activities that arise from and reflect the customs, beliefs, and way of life of a society or group.

Openness To Experience

A personality trait that features characteristics such as imagination and insight, and a wide range of interests, as well as a willingness to try new things.

Socioeconomic Status

An economic and sociological combined total measure of a person's work experience and of an individual's or family's economic and social position relative to others, based on income, education, and occupation.