Comparing a tax on labor income, a tax on capital income, and a tax on land income, who pays more of each tax
because the demand for labor is ____ elastic than the supply of labor.
A. Employers bear a larger share of the tax on labor income than workers; less
B. Workers bear a larger share of the tax on labor income than employers; less
C. Employers bear a larger share of the tax on labor income than workers; more
D. Workers bear a larger share of the tax on labor income than employers; more
because the supply of capital is ____ elastic than the demand for capital.
A. Business owners pay more of the tax on capital income than savers and lenders pay; more
B. Savers and lenders pay more of the tax on capital income than business owners pay; more
C. Business owners pay more of the tax on capital income than savers and lenders pay; less
D. Savers and lenders pay more of the tax on capital income than business owners pay; less
because the supply of land is ____ elastic than the demand for land.
A. Renters pay more of the tax on land income than land owners pay; more
B. Land owners pay more of the tax on land income than renters pay; more
C. Land owners pay more of the tax on land income than renters pay; less
D. Renters pay more of the tax on land income than land owners pay; less