The deadweight loss from a tax
a. does not vary in amount when the price elasticity of demand changes.
b. does not vary in amount when the amount of the tax per unit changes.
c. is larger, the larger is the amount of the tax per unit.
d. is smaller, the larger is the amount of the tax per unit.
c
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You went to a craft show and paid an exorbitant price for an embroidered shawl that the seller said was hand-embroidered and had been imported from India
Several months later, you find a similar shawl in another showroom at a much lower price and found out that the one you bought was not an imported one. This is an example of ________ in the market for embroidered shawls. A) asymmetric information B) positive externalities C) negative externalities D) the free-rider problem
The 1994 agreement that eliminated most tariffs among the United States, Canada, and Mexico is known as
A) the Pacific Trade Association. B) the Western Trade Union. C) Trade Without Borders. D) NAFTA.
In 2011, the per capital output of goods and services in the United States was approximately
a. $15,000. b. $45,000. c. $8,000. d. $25,000.
If you win money in a casino you may be more likely to spend that money than your hard-earned cash. This is called:
a. compartmentalizing b. self control c. rule of thumb d. anchoring