Which of the Following Statements Is (Are)true About the Comprehensive

question 45

Multiple Choice

Which of the following statements is (are) true about the Comprehensive Environmental Response Compensation and Liability Act (CERCLA) ?

• A) It established a fund supported primarily by a tax on the petroleum and chemical companies.
• B) It is regarded as one of the most successful environmental laws.
• C) The funds collected are used to clean up sites where the original polluter cannot be identified.
• D) Both A and C, but not B.

Comprehend the impact of tax policies on economic behavior, including tax incidence and tax shifting.

Analyze the effects of specific taxes, such as luxury taxes and payroll taxes, on market behavior and economic equilibrium.

Evaluate the burden of tax shifting and tax incidence in various economic scenarios.

Understand the concept of elasticity in labor markets and its relevance to tax incidence and employer behavior.

---

Definitions:

Appellate Division

The Appellate Division is a part of the court system responsible for reviewing and revising the decisions made by lower courts, ensuring justice and adherence to the law.

New York Supreme Court

The highest trial-level court in New York State, handling civil and criminal cases.

Official Reports

Authorized publications that contain a collection of judicial opinions and decisions from courts.

Unofficial Report

A document or account not formally released by an authoritative source, often lacking official endorsement or validation.