Since 2001, the U.S. government budget deficit A) has been ...

[penza]

Since 2001, the U.S. government budget deficit
 
  A) has been approximately equal to 10 of U.S. GDP.
  B) as a percentage of U.S. GDP has increased steadily each year.
  C) as a percentage of U.S. GDP has decreased steadily each year.
  D) none of the above.

Question 2

What is meant by the term tax incidence? What is the tax incidence of the personal income tax? What is the tax incidence of the corporate income tax?
 
  What will be an ideal response?

[katieost]

Answer to Question 1

D

Answer to Question 2

Tax incidence refers to the distribution of tax burdens among various groups in society. The tax incidence of the personal income tax is on those who pay the taxes. On the other hand, economists are uncertain as to the tax incidence of the corporate income tax. It may be borne by stockholders, consumers, workers, or bondholders.

[penza]

Correct answers!

[katieost]

Great! Please up vote