Taxes on commodities or on purchases are known as:

The income elasticity of demand measures

A) the income effect of a change in price. B) the responsiveness of quantity demanded to changes in income. C) how a consumer's purchasing power is affected by a change in the price of a product. D) the percentage change in the price of a product divided by the percentage change in consumer income.

What was the primary reason the Income Tax Amendment of 1913 was passed?

(a) To pay off the public debt accumulated during the Civil War (1861–65) (b) To pay off the public debt accumulated during World War II (1941–45) (c) To grant the federal government access to revenues beyond those from land sales, customs and excise taxes (d) To pay off the current account deficit