(Figure: SRASA) In the figure, what will cause the shift from SRAS1 to SRAS2?
Definitions:
Tax Incidence
The study of who ultimately bears the burden of a tax, which can differ from who the tax is initially levied upon.
Tax Burden
The measure of taxes that an individual or business must pay out of their income or profit.
Tax Incidence
The analysis of the effect of a particular tax on the distribution of economic welfare among entities in the market.
Imported Wine
Wine that is produced in one country and then shipped to and sold in another country.
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