We can describe who bears the burden of a tax by using the concept of:

A. marginal burden.
B. incidence.
C. payee.
D. marginal tax rate.

B. incidence.

Economics

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If real GDP is $13,000 billion and aggregate hours are 270 billion, labor productivity equals

A) $6.50 per hour. B) $45 per hour. C) $48 per hour. D) $650 per hour.

Economics

"The government should choose policies deemed to be just, as evaluated by an impartial observer behind a ‘veil of ignorance.'" This statement is most closely associated with which political philosophy?

a. liberalism b. utilitarianism c. libertarianism d. welfarism

Economics