How a sales tax is divided between buyers and sellers is determined by
A) the government's choice of whom to tax.
B) who the law says must pay the tax.
C) the elasticities of supply and demand.
D) the revenue needs of government.
C
Economics
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If the demand and supply curves for a commodity shift to the right by the same amount, then in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a higher quantity and price. B) a lower quantity and a higher price. C) the same quantity and a lower price. D) a higher quantity and the same price.
Economics
Market income is defined as wages, interest, rent, and profit earned in factor markets plus cash payments to households by the government
Indicate whether the statement is true or false
Economics