When a Tax Is Placed on the Buyers of a Product,a

question 119

Multiple Choice

When a tax is placed on the buyers of a product,a result is that buyers effectively pay

• A)less than before the tax,and sellers effectively receive less than before the tax.
• B)less than before the tax,and sellers effectively receive more than before the tax.
• C)more than before the tax,and sellers effectively receive less than before the tax.
• D)more than before the tax,and sellers effectively receive more than before the tax.

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Definitions:

Individualism

A social theory favoring freedom of action for individuals over collective or state control, emphasizing individual initiative and independence.

Voluntary Emigration

The act of leaving one’s country of origin to settle in another by choice, often for economic, social, or political reasons.

Capitalist Economy

An economic system where trade, industries, and the means of production are largely or entirely owned and operated by private individuals or corporations for profit.

Extraversion

A personality trait characterized by outgoingness, high energy, and sociability.