What happens to the total surplus in a market when the government imposes a tax?

a. Total surplus increases by the amount of the tax.
b. Total surplus increases but by less than the amount of the tax.
c. Total surplus decreases.
d. Total surplus is unaffected by the tax.

c

Economics

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A tax bracket is

A) the percent of taxable income paid in taxes at a specific income bracket. B) the type of tax structure for which a range of taxes applies. C) the income range within which a particular tax rate applies. D) the range, from the high to the low tax rate, of a particular type of tax.

Economics

In the early 1900s,

a. federal and state governments typically supported management and opposed labor unions. b. "government by injunction" was a strong weapon for combating strikes. c. using troops to break strikes was considered a legitimate use of police power. d. the Supreme Court upheld employers' use of antiunion contracts. e. All of the above.

Economics