Which of the Following Is Correct? a Tax Burden

question 96

Multiple Choice

Which of the following is correct? A tax burden

• A)falls more heavily on the side of the market that is more elastic.
• B)falls more heavily on the side of the market that is less elastic.
• C)falls more heavily on the side of the market that is closest to unit elastic.
• D)is distributed independently of the relative elasticities of supply and demand.

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Definitions:

Head of Household

A tax filing status for individuals who are unmarried or considered unmarried, have paid more than half the cost of keeping up a home for the year, and have a qualifying person living with them.

Standard Deduction

A fixed dollar amount that reduces the income on which you are taxed, available to all taxpayers who do not itemize their deductions.

Taxpayer

An individual or entity that is obligated to make payments to municipal, state, or national governments, including taxes on income, property, or sales.

Single

A tax return designation for single taxpayers who are ineligible for any other filing statuses.