An Output Tax Will Be Shifted Completely

question 54

Multiple Choice

An output tax will be shifted completely

• A)Backward if demand is price inelastic
• B)Forward if demand is perfectly price inelastic
• C)Forward if demand is price elastic
• D)Backward,regardless of elasticity
• E)All of the above

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Definitions:

Reduced Government Support

A situation where financial or other forms of assistance from government agencies to individuals, organizations, or industries are diminished.

Fund-Raising

the process of gathering voluntary contributions of money or other resources by requesting donations from individuals, businesses, charitable foundations, or government agencies.

Transformational Leadership

A style of leadership where leaders work with teams to identify needed change, creating a vision to guide the change through inspiration and executing the change in tandem with committed members of the group.

Subordinates

Individuals who are lower in rank or position in an organizational hierarchy and report to a superior.