When a Tax Is Levied on a Good, the Buyers

question 70

Multiple Choice

When a tax is levied on a good, the buyers and sellers of the good share the burden,

• A)provided the tax is levied on the sellers.
• B)provided the tax is levied on the buyers.
• C)provided a portion of the tax is levied on the buyers, with the remaining portion levied on the sellers.
• D)regardless of how the tax is levied.

---

Definitions:

Conciliar Movement

A reform movement in the 14th and 15th century Catholic Church which held that supreme authority in the Church resided with an Ecumenical council, apart from, or even against, the pope.

Humanists

Thinkers and scholars of the Renaissance who focused on the study of classical antiquity and emphasized human values and potential.

Italian Influence

The impact of Italian culture, politics, and innovation on other countries, often referencing the Renaissance period and beyond.

Northern Renaissance

The Northern Renaissance refers to the period of cultural and intellectual growth in Northern Europe, particularly in the 15th and 16th centuries, characterized by a focus on realism and detail in art and literature.