The demand for medical care is very inelastic. If a 10-percent tax is levied on the sale of medical services and is collected from medical-care providers, then: A. the incidence of the tax is likely to be borne entirely by medical-care providers.
B. most of the tax is likely to be shifted to those who purchase medical care.
C. the market equilibrium price of medical care will fall.
D. the excess burden of the tax is likely to be very high.

Which term refers to the cost that motivates an economic decision

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.