The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the largest amount of deadweight loss?
A) A
B) B
C) C
D) D
E) A and D
D
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What types of unemployment will still exist when the economy is at the natural rate of unemployment?
A) frictional, structural, and cyclical unemployment B) frictional and cyclical unemployment only C) frictional and structural unemployment only D) structural and cyclical unemployment only
If your income is $92,000 and you pay taxes of $19,475, what is your average tax rate? Show your work
What will be an ideal response?
Martha lives near a paper mill. If she is concerned about the effects of the air pollution from the plant, she should contact which regulatory agency?
A. Consumer Product Safety Commission (CPSC) B. Environmental Protection Agency (EPA) C. Food and Drug Administration (FDA) D. Occupational Safety and Health Administration (OSHA)
A demand relationship in which a given percentage change in price will result in a less than proportionate percentage change in quantity demanded is
A) elastic. B) unit-elastic. C) inelastic. D) consistent with zero elasticity.