The Burden of a Tax Will Fall Primarily on Buyers

question 63

Multiple Choice

The burden of a tax will fall primarily on buyers when the

• A) demand for the product is highly inelastic and the supply is relatively elastic.
• B) demand for the product is highly elastic and the supply is relatively inelastic.
• C) tax is legally (statutorily) imposed on the seller of the product.
• D) tax is legally (statutorily) imposed on the buyer of the product.

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Definitions:

Positive Control

A genetic control system in which a regulatory protein binds to DNA, turning on transcription of a gene. Compare with negative control.

Operon

A functioning unit of DNA containing a cluster of genes under the control of a single promoter, found in prokaryotes and some viruses.

Repressible Genes

Genes whose expression can be decreased or halted in response to specific stimuli or conditions, as part of cellular regulatory mechanisms.

Transcribed

The process in which a segment of DNA is copied into RNA by the enzyme RNA polymerase.