The Actual Division of the Burden of a Tax Between

question 162

Multiple Choice

The actual division of the burden of a tax between buyers and sellers in a market is called

• A)tax incidence.
• B)tax liability.
• C)tax bearer.
• D)tax parity.

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Definitions:

Consequentialist Thought

Ethical philosophy considering the consequences of actions as the primary basis for any judgment about the rightness or wrongness of those actions.

Utilitarian Thought

A philosophical belief that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

A Theory of Justice

This is a seminal work by philosopher John Rawls, proposing principles of justice that would lead to a fair and equitable society.

Basic Structure

The fundamental organization or framework of a system, theory, or concept.