1. Employers will bear the full burden of the payroll tax if labor supply is (Points : 1)perfectly inelastic.perfectly elastic.backward bending.upward sloping.2. Any point on the utility possibilities frontier is ________ . (Points : 1)inefficient because both people could be made better off simultaneouslyinefficient because it is only possible to make one person better off by making the other person worse offefficient because it is only possible to make one person better off by making the other person worse offefficient because both people could be made better off simultaneously3. If the government wishes to encourage firms to internalize externalities they should ________ activities resulting in negative externalities and ________ activities resulting in positive externalities (Points : 1)tax; subsidizesubsidize; taxban; generateplace an injunction against; tax4. The measure or value upon which a tax is levied is the (Points : 1)tax base.tax rate.tax structure.tax incidence.