If a Tax Is Imposed on a Market with Inelastic

question 157

Multiple Choice

If a tax is imposed on a market with inelastic demand and elastic supply:

• A) buyers will bear most of the burden of the tax.
• B) sellers will bear most of the burden of the tax.
• C) the burden of the tax will be shared equally between buyers and sellers.
• D) neither the buyer nor the seller will bear the burden of the tax.

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Definitions:

Trait Aggressiveness

A stable personality characteristic that predisposes individuals to engage in aggressive behaviors across a variety of situations.

Aggressiveness

The quality of being likely to attack or confront; characterized by or resulting from aggression.

Warrior Gene

A colloquial term for a variant of the MAOA gene that has been linked, controversially, to increased aggressiveness and risk-taking behaviors.

Serotonin

A neurotransmitter in the brain that plays key roles in regulating mood, appetite, and sleep, among other functions.