Refer to the below graph. It shows the supply curve for a product before tax (S0) and after an excise tax is imposed (S1). The excise tax on the product is ultimately paid:
A. By buyers only
B. By sellers only
C. 75 percent by buyers and 25 percent by sellers
D. 25 percent by buyers and 75 percent by sellers
C. 75 percent by buyers and 25 percent by sellers
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The top 25 most frequently used DRGs accounted for approximately _______ percent of all discharges under Medicare
a. 28 b. 38 c. 48 d. 58 e. 68
According to the Laffer curve, when the tax rate is 100 percent, tax revenue will be
a. 0 b. at a maximum c. the same as they would be at a 50 percent tax rate d. greater than they would be at a 50 percent tax rate e. the same as they would be at a 20 percent tax rate
A 2% wage increase for teachers or police officers is:
a. usually offset by higher output per worker. b. leads to increases in municipal budgets. c. indicates that teachers and police have became more selfish. d. leads to more personalized service.
Economic cost is always less than accounting cost.
Answer the following statement true (T) or false (F)