Which of the Following Is Not Correct

question 155

Multiple Choice

Which of the following is not correct?

• A)Taxes levied on sellers and taxes levied on buyers are not equivalent.
• B)A tax places a wedge between the price that buyers pay and the price that sellers receive.
• C)The wedge between the buyers' price and the sellers' price is the same, regardless of whether the tax is levied on buyers or sellers.
• D)In the new after-tax equilibrium, buyers and sellers share the burden of the tax.

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Definitions:

Self-Actualization

The need to actualize or "make actual" your unique talents and abilities.

Habituation

The psychological process by which an individual becomes accustomed to a stimulus and consequently responds less to it over time.

Discrimination

Unjust or prejudicial treatment of different categories of people, often based on race, age, sex, or disability.

Extinction

Eliminating the conditioned response.