Whatever specific form it takes, the excise tax is regressive
Indicate whether the statement is true or false
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The "shoe-leather costs" of inflation are the costs from
A) the government taking a higher percentage of interest income. B) higher prices for all goods, including necessities such as shoes. C) confusion as people lose track of real costs and benefits. D) higher taxes due to higher inflation. E) time spent trying to spend money quickly.
Which of the following is a macroeconomics topic?
a. Wages of textile workers in the Northeast. b. The cost of producing 10,000 bookcases. c. The economy's annual growth rate. d. National demand for fish. e. Effects of farm subsidies on food prices.
Which of the following is true of the marginal revenue for a monopolist?
a. As a monopoly increases production, marginal revenue decreases b. As a monopoly increases production, marginal revenue increases. c. As a monopoly increases production, marginal revenue remains constant. d. As a monopoly increases production, marginal revenue first increases and then remains constant.
What happens when the government imposes a unit excise tax on a good?
A) The amount of the tax is added to the current equilibrium price. B) The demand for the newly taxed good decreases. C) That good's supply curve shifts down by the amount of the tax. D) The newly taxed good's supply curve shifts vertically upward by the amount of the per-unit tax being levied.