When a tax is imposed and some of the lost surplus becomes tax revenues, the group that benefits is:
A. consumers.
B. producers.
C. recipients of government services.
D. Only the government benefits from that lost surplus.
C. recipients of government services.
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Joann has just lost her job because her company was faced with more foreign competition and decided to restructure, which reduced the number of jobs at the company. Joann is
A) cyclically unemployed. B) internationally unemployed. C) structurally unemployed. D) transported unemployed. E) frictionally unemployed.
A less costly alternative to protection of national defense industries would be a production subsidy
Indicate whether the statement is true or false
Loss aversion can explain why very little ________ actually takes place in the securities market
A) short selling B) bargaining C) bartering D) negotiating
In the following situation, the tax system is Taxable income $1,000 $2,000 $4,000 $8,000 Tax payments $10 $30 $90 $270
a. progressive throughout all levels of income b. progressive between $1,000 and $2,000 of income but regressive above $2,000 c. regressive throughout all levels of income d. regressive between $1,000 and $2,000 of income but progressive above $2,000 e. proportional throughout all levels of income