Figure 4-10
shows the market for a good before and after an excise tax is imposed. What does the triangular area C represent?
a.
the deadweight loss accompanying the tax
b.
the tax revenue derived from sellers
c.
the tax revenue derived from buyers
d.
the total tax revenue generated by the tax
a
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Assume there is no way to prevent someone from using an interstate highway, regardless of whether or not he or she helps pay for it. This characteristic is called
A. nonexcludability. B. nonrivalry. C. nontaxability. D. nondiscrimination.
Under which of the following is consumer surplus zero?
A) all types of monopoly B) only single-price monopoly C) only perfectly price-discriminating monopoly D) only price discrimination on the basis of the number of units purchased E) perfect competition
Refer to the scenario above. What will be the future value of the deposit after 1 year?
A) $8,420 B) $8,480 C) $8,640 D) $8,820
In the market for euros, a decrease in the relative safety of U.S. investments tends to
A. increase excess supply. B. decrease equilibrium price. C. increase equilibrium price. D. cause no change in equilibrium price.