Which of the following statements about the burden of a carbon tax is true?
A. A carbon tax is proportional, placing about the same burden on high- and low-income households.
B. A carbon tax is regressive, placing a relatively heavy burden on poor households.
C. A carbon tax is progressive, placing a relatively heavy burden on high-income households.
D. The burden of a carbon tax would fall entirely on fossil fuel-burning energy producers and their stockholders, employees, and suppliers, and would not affect consumers.
Answer: B
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In the figure above, the ________ gap is equal to ________
A) recessionary; $1 trillion B) inflationary; $1 trillion C) recessionary; $12 trillion D) inflationary; $12 trillion E) recessionary; $13 trillion
Which of the following will increase economic freedom?
a. low rates of inflation and easy access to money that maintains its purchasing power b. high tariff rates c. government spending that comprises a large share of the economy d. rapid and unpredictable inflation
The individual supplies of apples from three apple orchards are 460, 580, and 700 apples respectively, when the equilibrium price of an apple is $0.75 . Identify the correct statement from the following
a. The market supply at $0.75 is 1,540 apples. b. If the price rises above $0.75, the market supply will be lower than 1,740 apples. c. If the price rises above $0.75, there will be an excess demand for apples in the market. d. The market demand at $0.75 is 1,740 apples.
Which of the following statements is true?
A. Comparative advantage requires absolute advantage. B. Absolute advantage implies comparative advantage. C. Comparative advantage does not require absolute advantage. D. Absolute advantage requires comparative advantage.