A Tax Placed on a Good

question 202

Multiple Choice

A tax placed on a good

• A)causes the effective price to sellers to increase.
• B)affects the welfare of buyers of the good but not the welfare of sellers.
• C)causes the equilibrium quantity of the good to decrease.
• D)creates a burden that is usually borne entirely by the sellers of the good.

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Definitions:

Profit Sharing

A corporate incentive plan where employees receive a portion of the company's profits, linking compensation to the company's financial performance.

Boundary Disputes

Conflicts between landowners or jurisdictions over the precise line that divides one entity from another.

Real Property

Real property refers to land and any permanent structures on it, including buildings and natural resources.

UCC's Writing Requirements

refers to the stipulations under the Uniform Commercial Code that dictate when a contract must be in writing to be enforceable.