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Some have proposed that we replace our federal income tax with a national sales tax. To raise sufficient revenue, the national sales tax would need
Some have proposed that we replace our federal income tax with a national sales tax. To raise sufficient revenue, the national sales tax would need to be somewhere between 23 and 31 percent. Should the U.S. adopt this proposal? Why or why not?If a 20% price increase generates a 20% decrease in quantity demanded, then this is a(n) ________ response. Group of answer choices inelastic elastic unit-elastic perfectly elastic
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