Where Is the Initial Effect of a Tax on the Buyers

question 69

Multiple Choice

Where is the initial effect of a tax on the buyers of a good

• A)on the supply of that good
• B)on the demand for that good
• C)on the equilibrium quantity of the good
• D)on the equilibrium price of the good

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Definitions:

Greater Rewards

Refers to the higher benefits or returns that are anticipated or received from taking greater risks or investing significant effort.

Training

The process of teaching or learning specific skills or behaviors, typically to improve performance in a given activity or job.

Lumpenproletariat

A term used in Marxist theory to describe the underclass excluded from the class structure of capitalist societies, including the unemployed and criminals.

Homeless

A condition where individuals lack stable, safe, and permanent housing.