1.Discuss: Economists often talk about theincidenceof a tax (sometimes referred aspass-throughorsharing the burden of a taxby the parties. Please, explain: what does it mean the incidence of a tax? In a way, this is like he laws of unintended consequences that pervades all Economics. Here are some examples. Governments often impose taxes on high income earners. Say a tax on those making $10 M per year, like prominent CEOs and soccer players. But really, will these high-income earners be affected by the tax? Why or Why not? Hint: Explain the pass-through channel (if at all).