Lawmakers can decide whether the buyer or the seller must send a tax to the government,but they cannot legislate the true burden of a tax.

Name: Lawmakers can decide whether the buyer or the seller must send a tax to the government,but they cannot legislate the true burden of a tax.
Brand: Quizplus
Rating: 4.8 (41 reviews)

Question

Quizplus · Accepted Answer

Lawmakers can determine who is legally responsible for paying a tax, but the true economic burden depends on the relative elasticities of supply and demand, which cannot be legislated.

Lawmakers Can Decide Whether the Buyer or the Seller Must