If the supply of automobiles becomes more inelastic, then a tax on automobiles is
A) paid more by the buyers after the change than before.
B) paid more by the sellers after the change than before.
C) always split evenly between the buyers and the sellers.
D) paid more by the government after the change than before.
E) always paid entirely by the buyers.
B
Economics
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Each of the following is an element of private enterprise, EXCEPT which one?
a. Government regulations b. Private property rights c. Competition d. Profits
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Keynesians believe ________
A) that economies move quickly to their long run equilibrium levels B) that the government should pursue active policies to stabilize economic fluctuations C) that the long run is more important than short-run fluctuations D) all of the above E) none of the above
Economics