Another name for a "flat-rate tax" in which the same tax rate applies to all income earners is a
A) proportional tax.
B) progressive tax.
C) regressive tax.
D) passive tax.
Answer: A
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Alex is a non-union employee in a factory. If the union negotiates certain benefits for the employees, Alex enjoys all the benefits although he does not pay the union fee. His behavior is an example of ________
A) rent-seeking B) free-riding C) profit maximizing D) rivalry
What reasons do governments often give to justify the decision to not allow price to ration goods?
What will be an ideal response?
The upward-sloping portion of the perfectly competitive firm's average total cost curve is the firm's short-run supply curve.
Answer the following statement true (T) or false (F)
Refer to the data provided in Table 16.1 below to answer the following question(s).Table 16.1 shows the situation facing two firms, both of which are polluting. Assume that each firm emits 5 units of pollution.Table 16.1Firm AFirm AFirm AFirm BFirm BFirm BReduction of Pollution by Firm AMC of reducing pollution for Firm ATC of reducing pollution for Firm AReduction of Pollution by Firm BMC of reducing pollution for Firm BTC of reducing pollution for Firm B1$4$41$8$82 610212203 9193163641332420565185052480Refer to Table 16.1. Suppose the government wants to reduce the total amount of pollution from the current level of 10 to 4. To do this, the government caps each firm's emissions at 2 units and issues 2 permits to each firm. If firms are not allowed to trade permits, what is the
total cost of the pollution reduction? A. $30 B. $55 C. $58 D. $130