Question

Question 16 (5 points)

A sales tax on a product is borne to a greater degree (proportion) by sellers than buyers when demand is more price elastic than supply is.

Question 16 options:

	True
	False

Question 17 (5 points)

The federal corporate income tax is regressive.

Question 17 options:

	True
	False

Question 18 (5 points)

What are the two types of taxes that working individuals pay on their earnings?

Question 18 options:

	A) property tax and payroll tax
	B) payroll tax and sales tax
	C) individual income tax and social insurance taxes
	D) individual income tax and sales tax

Question 19 (5 points)

If the actual Lorenz curve runs along the lower horizontal axis and the right side vertical line, the economy has absolute income equality.

Question 19 options:

	True
	False

Question 20 (5 points)

What is logrolling?

Question 20 options:

	A) a situation where a policymaker votes to approve a bill in exchange for favorable votes from his colleagues on other bills
	B) a situation where a policymaker gets the government to fund a non-essential project benefiting her family members
	C) a situation where a policymaker accepts bribes to prevent proposed legislation from coming to a vote
	D) a situation where policymakers transfer resources from those voters who are unlikely to have a huge impact on the political outcome to those who contribute to political campaigns

Answer 1

Answer

1.True
as cosumers are more price sensitive than the suppliers, the suppliers will take more of the tax burden.

17. False
The federal corporate income tax is progressive

18. A)property tax and payroll tax
These are the widely most popular taxes that most working individuals are paying

19. True
This is the least close to the 45 degree line of equality.

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