An ad valorem sales tax can be thought of as
A) a proportional tax.
B) not part of the tax base.
C) a progressive tax.
D) none of the above.
Answer: A
Economics
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Which of the following leads to the demanders paying all of a tax?
A) The supply is unit elastic. B) The supply is perfectly inelastic. C) The demand is perfectly elastic. D) The demand is perfectly inelastic.
Economics
A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
Economics