Buyers of a good will bear the larger part of the tax burden, and sellers will bear a smaller part of the tax burden, when the
a. tax is placed on the sellers of the good
b. tax is placed on the buyers of the good.
c. supply of the product is more elastic than the demand for the good.
d. demand for the product is more elastic than the supply of the good.
c
Economics
You might also like to view...
Based on the figure above, short-run equilibrium occurs at the price level of
A) 120 and real GDP of $5 trillion. B) 130 and real GDP of $10 trillion. C) 140 and real GDP of $15 trillion. D) 130 and real GDP of $15 trillion.
Economics
Compare the macroeconomic performances in the 1990s of the following countries under the following exchange-rate regimes: floating exchange rates, Mexico and Brazil; capital control, China and Malaysia; and currency boards, Estonia and Hong Kong;
dollarization, Argentina.
Economics