If a tax on a good is doubled, the deadweight loss from the tax
a. stays the same
b. doubles
c. increases by a factor of four
d. could rise or fall
c. increases by a factor of four
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Answer the next question based on the following data. The following national income data are in billions of dollars.1Consumption of fixed capital$4382Taxes on production and imports3263Compensation of employees2,3474Rents145Interest2876Proprietors' income2427Corporate profits2978Personal consumption expenditures2,5829Gross private domestic investment66910Government purchases81511Net exports-7812Net foreign factor income4613Statistical discrepancy50The expenditures approach to GDP calculation can be done by adding ________.
A. 8 through 13 B. 8 through 11 C. 2 through 7 D. 1 through 7
The cost of producing one more unit of a good or service is equal to its
A) marginal benefit. B) producer surplus. C) marginal expenditure. D) consumer surplus. E) marginal cost.
Which of the following is NOT an example of price discrimination?
A) student discount at a local movie theater B) breakfast cereal makers sending coupons to select buyers C) Pharmaceutical companies charge customers living in wealthier countries higher prices than for identical drugs in poorer nations. D) a hard cover book selling for more than the same book in electronic form
Current income maintenance programs
A. fail to make the income distribution more equal. B. have safeguards to ensure that recipients work whenever physically able. C. reduce the incentive of recipients to work. D. often provide benefits to people who are working and earning substantially more than the poverty level.