Which of the following is an example of an indirect tax?
a. value-added tax
b. income tax
c. inheritance tax
d. head tax
a
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Deadweight loss refers to the loss in ________
A) producer surplus due to a fall in the market price B) consumer surplus due to an increase in the market price C) total surplus due to a market distortion such as an externality D) total surplus due to a change in consumers' preferences
Refer to the scenario above. If the rules of the gamble are changed such that in the case of heads, the individual wins $50, and in the case of tails, the individual loses $100, the expected value of the gamble changes to:
A) $25. B) -$25. C) $50. D) -$50.
If the price of Pepsi-Cola increases from 50 cents to 60 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then the demand for Pepsi-Cola is
a. unit elastic b. perfectly elastic c. perfectly inelastic d. relatively elastic e. relatively inelastic
Communication between the teacher and parents should:
A. be a one-way communication. B. occur when the teacher has a concern. C. be mutually beneficial and a reciprocal relationship. D. occur during parent-teacher conferences.