Regardless of Whether a Tax Is Imposed on Buyers or Sellers,it

question 56

Multiple Choice

Regardless of whether a tax is imposed on buyers or sellers,it has the same effects: In general,the price paid by the buyers ________ and the price received by the sellers ________.

• A) rises; falls
• B) rises; rises
• C) falls; rises
• D) falls; remains the same
• E) rises; remains the same

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Definitions:

Labor Intensive

Describes industries or processes that require a large amount of labor to produce goods or services, often involving significant human effort and minimal automation.

Slaves

Individuals forcibly held and compelled to work without freedom or personal rights.

Task System

A labor system, particularly used in the context of slavery, where enslaved individuals were assigned specific tasks to complete each day.

Autonomy

The right or condition of self-government, often within a larger organization or nation, allowing for a degree of independence in decision-making processes.