1. From the historic information presented in the video, discuss whether you believe that the excise tax placed on whiskey to pay for the national debt incurred during the U.S. Revolutionary War can be justified by the benefits principle or if some other explanation seems more appropriate. what is meant by the benefits principle. 2. Based on the economics of tax incidence, discuss how the intensity of protest over imposition of the excise tax on whiskey to pay for the national debt incurred during the U.S. Revolutionary War may be related to the supply and demand elasticities of whiskey during the late 1700's. If the demand for whiskey was elastic during the late 1700's and that the supply of whiskey produced in the frontier regions of the country was inelastic during this time period.

Reference: Microeconomics in Modules by Paul Krugman&Robin Wells : International Trade