The incidence, or true burden of a tax:. a. is not dependent of the economic actor upon which the tax is imposed.
b. falls most heavily on the buyer if price elasticity of demand is higher than price elasticity of supply.
c. falls most heavily on the seller if price elasticity of demand is zero.
d. is paid entirely by the seller if supply elasticity is infinite.

Which of these things did galileo not do? a. stop publishing his scientific work after being convicted of heresy b. invent the concept of acceleration c. experiment with rolling balls down ramps of increasing steepness to test how objects would fall d. argue that earth moves around the sun e. make up a thought experiment that indicated that objects would fall at the same rate

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

Because the demand for wheat tends to be inelastic. true or false