The largest share of federal government tax receipts is derived from
A) corporate income taxes.
B) excise taxes.
C) social insurance contributions.
D) individual income taxes.
Answer: D
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Economists generally agree that in the long run changes in aggregate demand affect
A) aggregate output but not the price level. B) the price level but not aggregate output. C) both the price level and aggregate output. D) neither the price level nor aggregate output.
Ed thinks he looks good in tweed. Last week he saw a light-brown tweed sports coat at Dessen's Fine Clothing Store and thought that the $200 price tag was about as much as he was willing to pay. Lucky for him, he noticed an ad in the local paper that night that had attached a $20-off coupon for any purchase at Dessen's over $100 . Using the coupon, he bought the coat. He ended up with the coat
and a a. producer surplus of $80 b. producer surplus of $20 c. consumer surplus of $120 d. consumer surplus of $80 e. consumer surplus of $20
The goal of rent control is to help the poor by making housing more affordable
a. True b. False Indicate whether the statement is true or false
Suppose Darby values a certain smart phone at $400 . Jake values the same smart phone at $300 . The pre-tax price of this smart phone is $250 . The government imposes a tax of $75 on each smart phone, and the price rises to $325 . The deadweight loss from the tax is
a. $150. b. $100. c. $50. d. $0.