If a Tax Is Imposed on a Good with Equally

question 54

Multiple Choice

If a tax is imposed on a good with equally elastic supply and demand,the burden of the tax will be borne

• A) by consumers and producers equally.
• B) by consumers alone.
• C) by producers alone.
• D) mostly by consumers but partially by producers.
• E) mostly by producers but partially by consumers.

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Definitions:

Age Discrimination

Unfair treatment of individuals based on their age, especially in employment settings.

Employment Act

Legislation designed to regulate employment conditions, rights, and duties of employers and employees.

Forty Years

A time period of forty calendar years, which can signify significant duration in contexts such as careers, history, or measurements of time.

Fair Labor Standards Act of 1938

A U.S. law that established minimum wage, overtime pay eligibility, recordkeeping, and child labor standards.