When a tax on a good is enacted, a. buyers and sellers share the burden of the tax regardless of whether the tax is levied on buyers or on sellers. b. buyers always bear the full burden of the tax. c. sellers always bear the full burden of the tax. d. sellers bear the full burden of the tax if the tax is levied on them; buyers bear the full burden of the tax if the tax is levied on them

A) buyers and sellers share the burden of the tax regardless of whether the tax is levied on buyers or on sellers.

Explanation:

No matter who is responsible for paying the tax, the burden is always shared by both the suppliers and the consumers. Any tax levied on a product or service always decreases the amount of money received by the supplier and increases the amount of money paid by the consumers.

To make things worse, both consumers and suppliers will lose because the quantity demanded will decrease, decreasing consumer surplus, and the quantity supplied will also decrease, decreasing supplier surplus. Taxes always result in a deadweight loss since the total economic surplus decreases.

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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