Which of the Following Is True

question 121

Multiple Choice

Which of the following is true?
i.A tax on buyers has the same effect as the same sized tax on sellers.
ii.The more elastic the demand,the larger is the share of the tax paid by the buyers.
iii.The U.S.income tax is regressive.

• A) only i
• B) only ii
• C) only iii
• D) ii and iii
• E) i and ii

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Definitions:

Machining

The process of cutting, shaping, or removing material from a workpiece using machines.

Equipment Depreciation

Equipment depreciation refers to the allocation of the cost of tangible assets over their useful lives, representing the wear and tear, deterioration, or obsolescence of physical assets.

Supervisory Expense

Costs related to the management and oversight of operations within an organization.

Machine-Hours

A measure of the amount of time a machine is operated during a given period.