When Jack's income increases by $1,000, he spends an additional $850 dollars. This implies that his marginal propensity to save is 0.85

What is meant by tax incidence? Is the entire burden of the tax always borne by those on whom it is imposed?

What will be an ideal response?

Country A limits other nation's exports to Country A to 1,000 tons of coal annually. This is an example of a(n):

A. protective tariff. B. export subsidy. C. import quota. D. voluntary export restriction.