Which of the following is an example of a specific tax?
A) A yearly tax of 1 percent of the value of property owned by a citizen
B) A 5 percent tax on total purchases by a consumer
C) A tax of $1,000 on every man, woman, and child in the country
D) A tax of $.15 per gallon of gasoline purchased
E) A tax of 2 percent of the cost of placing a newspaper ad
Correct Answer:
Verified
Q109: A specific tax
A)increases supply by shifting the
Q110: Exhibit 7-7 Q111: Deadweight loss occurs in a price floor Q112: Which of the following statements is true? Q113: A price floor results in a decrease Q115: The effects of a tax can be Q116: A tax that is assessed on producers Q117: A price floor for a product results Q118: A price ceiling results in deadweight loss. Q119: When a tax is assessed on producers,
A)A
A)the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents