Figure 6-11

question 229

Multiple Choice

Figure 6-11. On the graph below, the shift of the supply curve from S₁ to S₂ represents the imposition of a tax on a good. On the axes, Q represents the quantity of the good and P represents the price.

-Consider Figure 6-11.Which of these statements about the effects of the tax is correct?

• A)The tax is paid by sellers; sellers bear one-half of the burden of the tax; government collects $24 from the tax.
• B)The tax is paid by sellers; sellers bear one-third of the burden of the tax; government collects $24 from the tax.
• C)The tax is paid by sellers; sellers bear two-thirds of the burden of the tax; government collects $30 from the tax.
• D)The tax is paid by buyers; buyers bear two-thirds of the burden of the tax; government collects $16 from the tax.

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Definitions:

Physiological Needs

Basic human necessities for survival and well-being, including food, water, shelter, and sleep, as described in Maslow's hierarchy of needs.

Allport

Gordon Allport, a psychologist known for his theory on personality traits and their influence on behavior.

Humanistic Theorists

Psychologists who focus on the study of the whole person and believe that individuals are motivated by free will and a desire for personal growth.

Standardized Personality Tests

Psychological assessments designed to measure and evaluate various aspects of a person's character and temperament using consistent and uniform procedures.