When a Tax on a Good Is Enacted

question 71

Multiple Choice

When a tax on a good is enacted,

• A)buyers and sellers share the burden of the tax regardless of whether the tax is levied on buyers or on sellers.
• B)buyers always bear the full burden of the tax.
• C)sellers always bear the full burden of the tax.
• D)sellers bear the full burden of the tax if the tax is levied on them;buyers bear the full burden of the tax if the tax is levied on them.

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Definitions:

Least Important

A term typically used in prioritization or evaluation contexts, indicating the item with the lowest priority or significance in a given list or comparison.

Great Person Approach

A theory suggesting that history is shaped by the actions of great leaders or exceptionally talented individuals with innate qualities of leadership.

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Trait Approach

A perspective in leadership studies that identifies specific qualities or characteristics that distinguish leaders from non-leaders.