Okay - some info for you -
Price ceilings & floors:
Taxes & elasticity:
Agree or disagree, and why?
1. If the government taxes land, wealthy landowners will pass the tax on to their poorer renters.
2. A tax that has no deadweight loss cannot raise any revenue for the government.
3. If the government taxes apartment buildings, wealthy landlords will pass the tax on to their poorer renters.
4. A tax that raises no revenue for the government cannot have any deadweight loss.
Suppose the government raises $100 million through a $0.01 tax on widgets, and another $100 million through a $0.10 tax on gadgets. If the government doubled the tax rate on widgets and eliminated the tax on gadgets, would it raise more, less, or the same amount of money as before?