-If a Sales Tax Is Imposed on a Product,which of the Following

question 2

Multiple Choice

-If a sales tax is imposed on a product,which of the following statements is correct?

• A)If the demand for the product is inelastic,the seller will pay a larger percentage of the tax than will the consumer.
• B)If the demand for the product is elastic,the seller will pay a smaller percentage of the product than will the consumer.
• C)The consumer will pay 100% of the tax.
• D)If the demand for the product is inelastic,the consumer will pay a larger percentage of the tax than will the seller.

---

Definitions:

Piaget

Swiss psychologist known for his pioneering work in child development, particularly regarding cognitive development and the stages of learning in children.

Formal Operational

The stage in Piaget's theory of cognitive development during which individuals develop the ability to think abstractly and reason logically.

Concrete Operational

The concrete operational stage is a phase in Jean Piaget's theory of cognitive development where children aged 7 to 11 years develop logical thinking but are still mostly focused on concrete objects and situations.

Preoperational Stage

In Piaget’s theory, the stage (from about 2 to 6 or 7 years of age) during which a child learns to use language but does not yet comprehend the mental operations of concrete logic.