Which of the Following Statements Is TRUE

question 189

Multiple Choice

Which of the following statements is TRUE?
I. A $0.50 tax on each fishing lure sold raises the price per lure by $0.50.
II. A tax on sellers is equivalent to a tax on buyers.
III. A tax on buyers is analyzed by shifting the demand curve up by the amount of the tax.

• A) I and II only
• B) II and III only
• C) II only
• D) I, II, and III

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Definitions:

Cruel or Unusual Punishment

Punishment that is considered unacceptable due to the suffering, pain, or humiliation it inflicts on the person being punished.

Cruel and Unusual Punishment

A type of punishment prohibited by the constitution that is deemed not fitting to the nature of the offense or that degrades human dignity.

Legal Right

A legal right is an entitlement derived from a legal system that allows or empowers a person to act in a certain way or requires others to act with respect to that person in certain situations.

Charter

A document, issued by a sovereign or state, outlining the rights, privileges, or authority granted to an individual or corporation.