Is there a difference between the "true burden" of a tax and who is legally required to pay a tax? Briefly explain
What will be an ideal response?
There is a difference. The true burden of a tax refers to the tax incidence, or how much of a tax is ultimately paid by the sellers and how much is paid by the buyers. The incidence of a tax does not depend on whether the government collects a tax from the buyers of a good or from the sellers.
Economics
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What factor, more than anything else, tends to make people wealthy?
A) Time B) Money C) Productive knowledge D) Control over non-renewable resources E) The ability to day-trade internet-related stocks
Economics
There is no trade-off between inflation and unemployment when expectations are ________ and policy changes are ________
A) adaptive; anticipated B) adaptive; unanticipated C) rational; anticipated D) rational unanticipated
Economics