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and the price thai A. doesn't change; doesn't change B. doesn't change; rises by $1 a can C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can 2. A tax on sugar will be paid by only A A. buyers if the supply of sugar is perfectly elastic B. sellers if the demand for sugar is perfectly inelastic C. buyers if the demand for sugar is perfectly elastic D. sellers if the supply of sugar is perfectly elastic 3. If the government imposes a new tax on plastic bags, A. total surplus from bags shrinks by more than the amount of tax collected B. total surplus from bags shrinks by the amount of the tax revenue collected C. a deadweight loss arises equal to the amount of tax revenue collected D. the market for plastic bags remains efficient if the tax is fair 4. The demand for labor is more elastic than the supply of labor. An income the wage rate paid by employers and A. lowers; workers pay all the tax B. raises; workers pay most of the tax C. does not change; employers pay all the tax D. raises; employers pay most of the tax 5. The supply of low-skilled workers in China is perfectly elastic. In 2011, when China cut the tax on these workers' incomes from 5 percent to zero, A. employers cut the wage rate but hired the same number of workers B. employers cut the wage rate and hired more workers C. employers didn't change the wage rate but hired more workers D. employers didn't change the wage rate and hired the same number of workers 6. The supply of land is perfectly inelastic, so a tax on land rent is A. efficient and the landowner pays all the tay B. inefficient becauco th delin GEL PEN 0.5

and the price thai A. doesn't change; doesn't change B. doesn't change; rises by $1 a can C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can 2. A tax on sugar will be paid by only A A. buyers if the supply of sugar is perfectly elastic B. sellers if the demand for sugar is perfectly inelastic C. buyers if the demand for sugar is perfectly elastic D. sellers if the supply of sugar is perfectly elastic 3. If the government imposes a new tax on plastic bags, A. total surplus from bags shrinks by more than the amount of tax collected B. total surplus from bags shrinks by the amount of the tax revenue collected C. a deadweight loss arises equal to the amount of tax revenue collected D. the market for plastic bags remains efficient if the tax is fair 4. The demand for labor is more elastic than the supply of labor. An income the wage rate paid by employers and A. lowers; workers pay all the tax B. raises; workers pay most of the tax C. does not change; employers pay all the tax D. raises; employers pay most of the tax 5. The supply of low-skilled workers in China is perfectly elastic. In 2011, when China cut the tax on these workers' incomes from 5 percent to zero, A. employers cut the wage rate but hired the same number of workers B. employers cut the wage rate and hired more workers C. employers didn't change the wage rate but hired more workers D. employers didn't change the wage rate and hired the same number of workers 6. The supply of land is perfectly inelastic, so a tax on land rent is A. efficient and the landowner pays all the tay B. inefficient becauco th delin GEL PEN 0.5

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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P and the price tha A. total surplus from bags shrinks by more than the amount of tax collected hks C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can 4. The demand for labor is more elastic than the supply of labor. An income tax A. doesn't change; doesn't change B. doesn't change; rises by $1 a can C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can 2. A tax on sugar will be paid by only A . A. buyers if the supply of sugar is perfectly elastic B. sellers if the demand for sugar is perfectly inelastic C. buyers if the demand for sugar is perfectly elastic D. sellers if the supply of sugar is perfectly elastic 3. If the government imposes a new tax on plastic bags, A. total surplus from bags shrinks by more than the amount of tax collect.. B. total surplus from bags shrinks by the amount of the tax revenue colle C. a deadweight loss arises equal to the amount of tax revenue collected D. the market for plastic bags remains efficient if the tax is fair 4. The demand for labor is more elastic than the supply of labor. An income ta the wage rate paid by employers and A. lowers; workers pay all the tax B. raises; workers pay most of the tax C. does not change; employers pay all the tax D. raises; employers pay most of the tax 5. The supply of low-skilled workers in China is perfectly elastic. In 2011, when China cut the tax on these workers' incomes from 5 percent to zero, A. employers cut the wage rate but hired the same number of workers B. employers cut the wage rate and hired more workers C. employers didn't change the wage rate but hired more workers D. employers didn't change the wage rate and hired the same number of workers 6. The supply of land is perfectly inelastic, so a tax on land rent is A. efficient and the landowner pays all the tax B. inefficient because the renter navs all l C. inefficio delifn GEL PEN 0.5
Transcribed Image Text:P and the price tha A. total surplus from bags shrinks by more than the amount of tax collected hks C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can 4. The demand for labor is more elastic than the supply of labor. An income tax A. doesn't change; doesn't change B. doesn't change; rises by $1 a can C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can 2. A tax on sugar will be paid by only A . A. buyers if the supply of sugar is perfectly elastic B. sellers if the demand for sugar is perfectly inelastic C. buyers if the demand for sugar is perfectly elastic D. sellers if the supply of sugar is perfectly elastic 3. If the government imposes a new tax on plastic bags, A. total surplus from bags shrinks by more than the amount of tax collect.. B. total surplus from bags shrinks by the amount of the tax revenue colle C. a deadweight loss arises equal to the amount of tax revenue collected D. the market for plastic bags remains efficient if the tax is fair 4. The demand for labor is more elastic than the supply of labor. An income ta the wage rate paid by employers and A. lowers; workers pay all the tax B. raises; workers pay most of the tax C. does not change; employers pay all the tax D. raises; employers pay most of the tax 5. The supply of low-skilled workers in China is perfectly elastic. In 2011, when China cut the tax on these workers' incomes from 5 percent to zero, A. employers cut the wage rate but hired the same number of workers B. employers cut the wage rate and hired more workers C. employers didn't change the wage rate but hired more workers D. employers didn't change the wage rate and hired the same number of workers 6. The supply of land is perfectly inelastic, so a tax on land rent is A. efficient and the landowner pays all the tax B. inefficient because the renter navs all l C. inefficio delifn GEL PEN 0.5
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