If a $5,000 Property Tax Is Placed Legally (Statutorily) on the Buyers

question 242

Multiple Choice

If a $5,000 property tax is placed legally (statutorily) on the buyers of new automobiles and as a result the price of automobiles at dealerships rises by $2,000, the actual burden of the tax

• A) falls completely on automobile buyers.
• B) falls completely on automobile sellers.
• C) is $2,000 on automobile buyers and $3,000 on sellers.
• D) is $3,000 on automobile buyers and $2,000 on sellers.

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