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Author Question: The closest thing in the real world to a negative income tax is the _____. a. AARP b. EITC c. ... (Read 87 times)

bio_gurl

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on: Jul 1, 2018
The closest thing in the real world to a negative income tax is the _____.
 
  a. AARP
  b. EITC
  c. TANF
   d. AFDC

Question 2

Only in the case of perfectly inelastic demand will consumers pay the full amount of a specific tax or ad valorem tax.
 
  Indicate whether the statement is true or false


mcarey591

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

False. While it is true that consumers pay the full tax in the case of perfectly inelastic demand, it is not the only case. Regardless of demand elasticity (except in the rare case where demand is also perfectly elastic), consumers will pay the full amount of the tax if supply is perfectly elastic.


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