Ecn 104 chapter 7 test - Study guides, Class notes & Summaries

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ECN 104 Chapter 7 Test Questions and Answers All Correct
  • ECN 104 Chapter 7 Test Questions and Answers All Correct

  • Exam (elaborations) • 2 pages • 2024
  • ECN 104 Chapter 7 Test Questions and Answers All Correct When ___________ are paying tax it affects supply - Answer- sellers When ________ are paying tax it affects demand - Answer- buyers Tax Incidence - Answer- measure of who really bears the tax burden Principles of taxation - Answer- 1) incidence doesn't depend on who officially pay the tax 2) Incidence depends on shapes of supply / demand curves ( price elasticities) Deadweight loss - Answer- larger when supply/ demand is...
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