If an Excise Tax Is Imposed on a Good or Service

question 40

Multiple Choice

If an excise tax is imposed on a good or service,

• A) the supply curve shifts upward
• B) the supply curve shifts downward
• C) the price paid by consumers decreases
• D) the net price received by sellers increases
• E) the quantity produced and sold increases

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Definitions:

Monitor Progress

The act of regularly assessing and documenting the advancement or change in a project, health status, or other ongoing activities.

Center of Gravity

The point in an object where its mass is concentrated, and around which its weight is evenly dispersed when in a uniform gravitational field.

Base of Support

The area beneath an object or person that provides support and stability.

Narrows

A geographical feature where a body of water is constricted between two landforms.