Asked by
Jamie Giron
on Oct 12, 2024Verified
The imposition of a tax on a good or service would be represented as
A) an increase in demand.
B) an increase in supply.
C) a decrease in demand.
D) a decrease in supply.
E) a decrease in demand and in supply.
Tax Imposition
The process by which a government or authority imposes a financial charge or levy upon a taxpayer.
Supply
The total amount of a specific good or service that is available to consumers, often influenced by the product's price.
Demand
The desire, willingness, and ability of consumers to buy goods and services at various price points at a specific time.
- Examine the influence of tax measures on market outcomes, focusing particularly on their impact on prices and the availability of products.
Verified Answer
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Learning Objectives
- Examine the influence of tax measures on market outcomes, focusing particularly on their impact on prices and the availability of products.