Which of the following taxes is most likely to be shifted?
A. A general sales tax.
B. A flat-rate state income tax.
C. A progressive federal income tax.
D. A property tax on an owner-occupied residence.
Answer: A
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Dissaving occurs when
A. income is greater than saving. B. saving is greater than the interest rate. C. saving is greater than consumption. D. income is less than consumption.
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for ramen noodles, an inferior good. Which panel describes what happens in this market as a result of an increase in income?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
In closely held firms, the manager-stockholder conflict is
A) worse than in the larger firm because there is no incentive for the individual stockholder to monitor managers. B) the same as in publicly held firms. C) less severe than in the larger firm because there is an incentive for the major stockholder to monitor managers. D) less pronounced than in large public companies, because the manager is the owner.
Optimal consumption is the mix of consumer goods sold that maximizes utility for producers.
Answer the following statement true (T) or false (F)