Only two of the productively efficient choices will be allocatively efficient choices for society as a whole
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is an example of a subsidized service?
A) Social Security payments to retirees B) Social Security payments to widows C) welfare payments to the unemployed D) Medicare reimbursements to hospitals
If the absolute value of your calculated t-statistic exceeds the critical value from the standard normal distribution, you can
A) reject the null hypothesis. B) safely assume that your regression results are significant. C) reject the assumption that the error terms are homoskedastic. D) conclude that most of the actual values are very close to the regression line.
A tax that does not change consumers’ behavior creates no
A. economic burden. B. excess burden. C. tax revenue. D. tax incidence.
Suppose the supply of land is perfectly inelastic and landowners are receiving payments equal to $100,000 an acre. If the government taxed the landowners' income with a tax rate of 20 percent, how much tax would the government collect?
A. less than $20,000 because the owners would change their behavior so as to pay less tax B. $20,000 because the use of the land doesn't depend on the price the landowners receive for the land C. more than $20,000 because the combined effects of all the owners trying to change their behavior actually would generate higher returns D. zero, because the owner would do something else with the tax rather than pay such a high tax