When a tax is levied on a good,
a. government collects revenues which might justify the loss in total welfare.
b. there is a decrease in the quantity of the good bought and sold in the market.
c. a wedge is placed between the price buyers pay and the price sellers effectively receive.
d. All of the above are correct.
d
Economics
You might also like to view...
Among state member and national banks, __________ have federal deposit insurance through the FDIC
A) all B) virtually all C) a minority D) none of them
Economics
Which is the most accurate statement?
A. The poverty of older Americans is much greater than the problem of child poverty. B. Public assistance has been considered a great success. C. Medicare and Medicaid date back to the New Deal of the 1930s. D. Less than half of those eligible receive food stamps.
Economics