1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Orlov [11]
4 years ago
5

Choose the correct statement. A. Income tax creates a deadweight loss in the markets for capital and labor. B. Income tax is a t

ax paid by the buyers of the services of​ labor, capital, and land. C. The inefficiency of a tax is independent of the elasticities of demand and supply.
Business
1 answer:
mixer [17]4 years ago
7 0

Answer:

The correct answer is option A.

Explanation:

Income tax is a tax imposed by the government on the income earned by the individuals. This income can be from capital and labor. It creates a deadweight loss in the market for labor and capital.

Deadweight loss is the loss to economic efficiency and production caused by a tax. The imposition of a tax creates a tax wedge, this tax wedge leads to a deadweight loss. Deadweight loss due to income tax is the loss of purchasing power or reductions standard of living due to tax.  

The inefficiency or tax burden depends upon the elasticities of demand and supply. Whoever has the least elasticity will share most of the tax burden.

You might be interested in
3. According to their comparative advantage, Alphaland specializes in axes and Betaville specializes in batons. Alphaland will t
Nady [450]

Answer: Option (C) is correct.

Explanation:

A country has a comparative advantage in producing a commodity if the opportunity cost of producing that good is lesser in that country as compared to the other country.

From the information given in the question, it is clear that Alphaland has a comparative advantage in axes and Betaville has a comparative advantage in batons.

Hence, Alphaland will trade axes for batons only if the price of batons is lower than the cost of producing it in Alphaland. So that there is a possibility mutually beneficial trade.

7 0
3 years ago
What policy of gorbachev's called on the soviet people to openly discuss or criticize the soviet government and economy and ulti
Gennadij [26K]

A series of political and economic changes known as perestroika, or "restructuring" in Russian, were implemented to revitalize the Soviet Union's sluggish economy in the 1980s. President Mikhail Gorbachev, who designed it, would preside over the nation's most significant political and economic reforms since the Russian Revolution. But the Soviet Union's dissolution in 1991 was largely caused by the suddenness of these reforms, which were accompanied with rising instability both inside and beyond the Soviet Union.

What was the policy of Gorbachev's on Social and political topics?

The Soviet Union's policy of free discourse on social and political topics was known as glasnost (Russian for "openness"). The Soviet Union started to become democratic after Mikhail Gorbachev implemented it in the late 1980s. In the end, the Soviet Union's political system underwent substantial changes: the Communist Party's influence was diminished, and multi-candidate elections were held. Additionally, Glasnost allowed media outlets to more freely disseminate news and information and tolerated criticism of government authorities.

To know more about policy of gorbachev's visit: brainly.com/question/3929652?  

#SPJ4

3 0
1 year ago
The focus vision area has ...........degrees of information.
tekilochka [14]
5-10 degrees

The focus vision has the purpose of helping in the targeting task. It is also the one that helps to establish a visual lead. Besides these, one of the most important functions of this type of vision, focus vision, is to allow the reading of street signs or any other that might be important, as well as interpreting them.
4 0
3 years ago
What is the margin of safety?<br> a. $ 25,000<br> b. $ 50,000<br> c. $100,000<br> d. $250,000?
Andrej [43]
It depends what for... but If its really important, u would say 50,000
3 0
4 years ago
G. How trustworthy do you think the secondary source is? Do you think this source
melomori [17]

Answer: The secondary source on a topic may be biased because the information is translated and the text and information could be altered

Explanation:

3 0
3 years ago
Other questions:
  • When looking at the statistics and opportunities available to college graduates you see that college graduates
    12·2 answers
  • The following transactions were completed by Daws Company during the current fiscal year ended December 31:
    8·1 answer
  • Tesco is saving 3 million usd a year alone in landfill taxes by simply sending its used cooking oil and chicken fat to be used t
    11·1 answer
  • The factor that has the greatest impact on your credit score is
    12·1 answer
  • According to the overall staffing organizations model, hr and staffing strategy are driven by ______________.
    5·1 answer
  • Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and uncollectible accou
    6·2 answers
  • How can you apply Total Quality Management, Six Sigma, Kaizen &amp; Lean principles to improve the management of an academic ins
    8·1 answer
  • In a newsvendor model, if underage cost is three times overage cost and the seller orders the optimal quantity, then the probabi
    9·1 answer
  • Smashed Pumpkins Co. paid $192 in dividends and $617 in interest over the past year. The company increased retained earnings by
    10·1 answer
  • Muecke Inc. is working on its cash budget for April. The budgeted beginning cash balance is $40,000. Budgeted cash receipts tota
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!