Types of taxes, income distribution, Tax incidence

Question 1

When demand is inelastic, the majority of the tax falls on the

Accepted Answer

consumers

Question 2

The tax when the percent of income paid stays the same regardless of income.

Accepted Answer

Proportional

Question 3

The tax when the percent of income paid decreases as income increases.

Accepted Answer

Regressive

Question 4

The percent of of income paid increases as income increases

Accepted Answer

Progressive

Question 5

When supply is inelastic, the majority of the tax falls on the

Accepted Answer

producers

Question 6

When supply is elastic, the majority of the tax falls on the

Accepted Answer

consumers

Question 7

The closer it is to ___ the more income inequality there is.

Accepted Answer

1

Question 8

The closer the number is to ____ the more equally the nation distributes wealth.

Accepted Answer

0

Question 9

When demand is elastic, the majority of the tax falls on the

Accepted Answer

producers

Questions 9