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Answer TRUE or FALSE and draw a Supply and Demand model. 4- A tax with no DWL can't generate any revenue for the government. (10p)
Answer "TRUE" or "FALSE" and draw a Supply and Demand model.
4- A tax with no DWL can't generate any revenue for the government. (10p)
5- A tax that does not generate any revenue for the government does not have any DWL. (10p)
6- The burden of tax is always equally shared between consumers and producers. (10p)
7- A tax cut always improves efficiency and benefits society. (10p)
8- A tax cut for employers does not benefit workers. (10p)
9- If labor demand is more elastic than labor supply, the burden of a tax on labor mainly falls on employers. (10p)
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