Which of the following taxes is least likely to be shifted?
a. a federal excise tax on grapefruit
b. a sales tax on some foodstuffs
c. a personal income tax
d. a state tax on football tickets
c
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Which of the following is FALSE for a profit-maximizing single-price monopolist?
A) P = MC B) MC = MR C) P > MR D) None of the above because they are all true.
Given the basic rule of thumb for the relationship among inflation, productivity and nominal wage increases, if wages rise by 5 percent and productivity increases 3 percent, one would predict inflation to be:
A. 2 percent. B. 1 percent. C. 0 percent. D. ?1 percent.
Maria is looking to buy one of two houses to rent out for additional income. She determines that the first house, priced at $200,000, could rent for $1,500 per month. If the second house is priced at $280,000, how much rent would Maria have to charge to
get an equivalent yearly rate of return? A. $2,100 per month. B. $2,600 per month. C. $2,800 per month. D. It cannot be determined with the information given.
The ultimate distribution of a tax?s burden is the
A. tax rate. B. tax incidence. C. tax structure. D. tax base.