If an Excise Tax Is Imposed on a Good or Service

question 40

Multiple Choice

If an excise tax is imposed on a good or service,

• A) the supply curve shifts upward
• B) the supply curve shifts downward
• C) the price paid by consumers decreases
• D) the net price received by sellers increases
• E) the quantity produced and sold increases

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Definitions:

Evaluator's Observation

The process by which an evaluator consciously watches, records, and assesses someone's performance, skills, behaviors, or outcomes.

Performance Appraisal System

A structured process by which employee performance is evaluated and feedback is provided.

Reliable

The quality of being consistently good in performance, allowing someone or something to be trusted.

Scientific Management

Uses systematic study of job components to develop practices to increase people’s efficiency at work.