Suppose the demand curve for a product is horizontal and the supply curve is upward sloping. If a per-unit tax is imposed in the market for this product
A) buyers bear the entire burden of the tax.
B) the tax burden will be shared by buyers and sellers.
C) the tax burden will be shared among the government, buyers, and sellers.
D) sellers bear the entire burden of the tax.
D
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According to one research study focusing on Indonesia, actions by nongovernmental organizations are ___________ than importing countries' threats to raise tariffs.
a. less effective in raising wages and limiting declines in employment b. more effective in raising wages and limiting declines in employment c. less effective in raising wages but more effective in limiting declines in employment d. more effective in raising wages but less effective in limiting declines in employment
Two goods are substitutes of each other if an increase in the price of one good causes the demand for the other good to increase
a. True b. False Indicate whether the statement is true or false