The total welfare associated with a market that includes a government sales tax equals
A) consumer surplus plus producer surplus.
B) consumer surplus plus producer surplus minus government tax revenue.
C) consumer surplus plus producer surplus plus government tax revenue.
D) the government tax revenue.
C
You might also like to view...
In the long run:
A) all factors of production are fixed. B) only some inputs of a firm can be changed. C) all firms earn positive economic profits. D) all factors of production can be changed.
Which of the following is NOT one of the eight basic puzzles about financial structure?
A) Debt contracts are typically extremely complicated legal documents that place substantial restrictions on the behavior of the borrower. B) Indirect finance, which involves the activities of financial intermediaries, is many times more important than direct finance, in which businesses raise funds directly from lenders in financial markets. C) Collateral is a prevalent feature of debt contracts for both households and business. D) There is very little regulation of the financial system.
Checking accounts are included in
A) certificates of deposit. B) currency. C) lines of credit. D) M1.
According to Karl Marx, one's social consciousness was determined by one's relationship to the ____________.
Fill in the blank(s) with the appropriate word(s).