When a Tax Is Levied on a Good

question 73

Multiple Choice

When a tax is levied on a good:

• A)the quantity of the good sold will change
• B)the price of the good sold will change
• C)both price and quantity of the good sold will change
• D)neither price nor quantity of the good sold will change

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Definitions:

Ethical Behavior

Conduct that is consistent with what society, businesses, and individuals consider to be good values, morals, and principles.

Fundamental Rights

Core legal rights considered essential for the protection and freedom of individuals.

Terminal Values

Preferences about desired end states.

Self-discipline

The ability to control one's feelings and overcome weaknesses; the practice of doing tasks even if one does not want to, showing self-control.