A per unit tax or percentage tax on a good or service that must be paid by consumers of that good is
A. a subsidy.
B. a gift tax.
C. taxation without representation.
D. an excise tax.
Answer: D
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All of the following were reasons that the Fed increase the required reserve ration in 1936 EXCEPT:
A) concerns over the possibility of future inflation B) to eliminate the high level of excess reserves C) fears that the economy was overheating D) concerns over a speculative bubble
The fall in the money multiplier and money supply during the Great Depression
a. suggests that the public but not banks can be a major participant in the money supply process. b. implies that banks but not the public can be a major participant in the money supply process. c. means that neither the banks nor the public were involved in the money supply process. d. illustrates that both the public and banks can be major players in the money supply process.
When an economy achieves economic efficiency, it:
A. is beyond a Pareto optimal position. B. is at a Pareto optimal position. C. may or may not be at a Pareto optimal position. D. is below a Pareto optimal position.
All of the following are examples of negative effects of imposing rent control except:
A. persons who get a place to live pay lower rent. B. renters must pay non-refundable security deposits. C. producer surplus decreases. D. some people who would have rented apartments before rent control will not rent.