The income transferred by the government from a citizen who is earning income to another citizen is referred to as:
a. fiscal spending.
b. transfer payment.
c. budgetary allowance.
d. taxation.
e. internal debt.
b
You might also like to view...
Refer to Figure 16.1. An increase in the real interest rate is best represented by a movement from
A) point A to point B. B) point B to point A. C) point A to point C. D) point C to point A.
Emma works full time during the day as an economist and faces a 90 percent marginal tax rate. If Emma were to get an offer to work a second job in the evenings doing consulting work for a local business for $10,000 per year, how much of this additional income would she be able to keep as net pay after taxes?
a. $1,000 b. $4,000 c. $6,000 d. $10,000
The difference between the utility of expected income and expected utility from income is
A) zero because income generates utility. B) positive because if utility from income is uncertain, it is worth less. C) negative because if income is uncertain, it is worth less. D) that expected utility from income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the utility of expected income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure. E) that the utility of expected income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the expected utility of income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure.
Suppose that elasticity has been reliably measured as 1.55 and the unit price decreases from $20 to $17.50 . How much will quantity demanded increase?