Which of the following taxes does NOT lead to a deadweight loss?
A) A proportional income tax
B) A lump-sum tax
C) A progressive income tax
D) A proportional tax on property
B
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Are your total and marginal utility of ice cream schedules determined by the price of ice cream?
What will be an ideal response?
Marginal social cost would be less than marginal private cost in the presence of negative externalities
Indicate whether the statement is true or false
The consumer price index tires to measure how much consumer incomes must rise in order to maintain a constant
a. level of real GDP. b. ratio of consumption to GDP. c. ratio of net exports to GDP. d. standard of living.
Which of the following exemplifies spatial differentiation used by firms under monopolistic competition to differentiate their product in the market?
a. A car dealer offering free after sales service for the first 8 months b. A diamond jeweler offering products online and at retail stores situated at convenient locations c. A cosmetics manufacturer providing free skin care tips to its customers d. A toy manufacturer using bright colors for packaging its products