Multiple Choice
About 35,000 general aviation multiengine airplanes are licensed to operate in the United States. If an additional $1,000-per-year tax was levied on each plane to raise general revenue, economic thinking suggests the
A) annual revenue from this tax would be less than $35,000,000.
B) annual revenue from this tax would be $35,000,000.
C) annual revenue from this tax would be more than $35,000,000.
D) number of airplanes would increase dramatically.
Correct Answer:
Verified
Correct Answer:
Verified
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