Excise taxes constitute a large source of government revenue
a. True b. False
b
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Income assistance benefits are
a. taxed at a high marginal rate, in the sense that benefits sharply decrease as earned income increases b. taxed at a 20 percent marginal rate c. taxed at a high marginal rate in order to provide work incentives d. unaffected by increases in earned income e. positively related to income from other sources
The coordination task of any economy that answers the question of how output shall be divided among consumers may best be described as
a. output selection. b. production planning. c. distribution. d. None of the above is correct.
Installing software to limit screen time, forcing you to uninstall it every time you reach the limit, is an example of:
A. a commitment device. B. increasing the cost of a vice. C. can be explained through behavioral economics. D. All of these are true.
A benefit to consumers of monopolistically competitive markets is that:
A. consumers only have to choose from one product. B. consumers have a variety of products from which to choose. C. goods are sold at the lowest possible average cost of production. D. price is equal to marginal cost in equilibrium.