The greater the elasticity of demand and supply, the greater is the efficiency loss of a tax.
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Q10: The major expenditure of local governments is
Q11: Sales taxes on consumer goods are regressive
Q12: Given demand, the more inelastic the supply
Q13: Sales taxes are proportional in relation to
Q14: The benefits-received principle of taxation is used
Q16: The marginal tax rate is the tax
Q17: Although state and local taxes are highly
Q18: Given supply, the more inelastic the demand
Q19: The largest source of local government's revenue
Q20: The basic source of state government's revenue
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