Define tax incidence
What will be an ideal response?
Tax incidence is the ultimate distribution of a tax's burden. In other words, it indicates who actually bears the cost of paying the tax.
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We use percent-changes in the formula for estimating the price elasticity of demand coefficient in order to:
A. Make the coefficient's value become independent of whether price goes up or down B. Take the midpoints of P and of Q in the computation C. Eliminate the negative sign of the coefficient D. Make it irrelevant how we measure price: be it in cents, in dollars, or in thousands of dollars
To pay back Social Security loans, Congress could do all of the following except
A. Reduce spending on non-Social Security programs. B. Increase budget deficits. C. Sell fewer U.S. Treasury bonds. D. Raise future taxes.