A Tax That Is Placed on the Quantity of the Item

question 90

Multiple Choice

A tax that is placed on the quantity of the item purchased, such as gallons of it, is called a(n)

• A) Income tax.
• B) Property tax.
• C) Excise tax.
• D) None of the choices are correct.

---

Definitions:

Posterior Probabilities

Probabilities that are updated based on new evidence or information, typically used in Bayesian statistics.

Prior Probabilities

Probabilities that reflect beliefs about the uncertainty of events before new evidence is considered.

Likelihood Probabilities

Measures of the plausibility of a hypothesis given certain data, not necessarily summed to one.

Posterior Probabilities

Probabilities that are updated as more evidence or information becomes available, commonly used in Bayesian statistics.