Use the Following to Answer Questions

question 55

Multiple Choice

Use the following to answer questions:
Figure: Tax Incidence
-(Figure: Tax Incidence) Look at the figure Tax Incidence. Based on the figure, the deadweight loss of an excise tax is likely to be greater in panel _____ than in panel _____.

• A) D; C
• B) A; B
• C) C; B
• D) B; A

Identify the warranties associated with the acceptance and negotiation of negotiable instruments.

Assess the impact of fraud and forgery on negotiable instruments and the parties involved.

Determine the liability and defenses available to parties in a transaction involving materially altered instruments.

Understand the effect of consumer protection laws on transactions involving negotiable instruments.