The tax-induced difference between the price paid by consumers and the price received by producers is
A. the tax difference.
B. the tax wedge.
C. the statutory incidence.
D. the supply side effect.
B. the tax wedge.
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? Refer to Table 4-1. At $10, what is the surplus?
A. 4,500 B. 3,000 C. 1,500 D. 0
In the above figure, suppose that the government sets a limit that may be produced of 10 units of output and the price rises to $4. In comparison to a competitive market the producer surplus would rise by
A) $0. B) $5. C) $15. D) $20.
All of the following are true regarding the Lanham Act except which one?
A) Civil suits can be filed under the Lanham Act. B) It prohibits trademark infringement. C) It was passed in 1946. D) It does not allow a competitor to sue for marketplace damages.
Consider the Keynesian consumption function. If disposable income is greater than the break-even level of disposable income, then households will be:
a. investing. b. borrowing. c. dissaving. d. saving.