Suppose the government of a town of 2,000 people implements a tax on each of 5 people in a small neighborhood to raise $1,000 for a sculpture that will be placed in the common area of that 5-person neighborhood
Each of the 5 people in the small neighborhood will receive $120 in benefits from the sculpture. This tax is likely to A) generate a great deal of opposition from taxpayers.
B) generate a great deal of opposition from the 5 people in the affected neighborhood.
C) generate little opposition from the 5 people in the affected neighborhood.
D) generate the desirable social outcome.
B
Economics
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Long-run equilibrium is characterized by zero profits in
A) monopolistic competition only. B) perfect competition only. C) both perfect competition and monopolistic competition. D) market structures in which there are barriers to entry.
Economics
A government-sponsored good is often
A) produced by the government. B) subsidized. C) taxed. D) advertised.
Economics