the vertical distamce betwen pom A amd B nepresents a tax im the manket. supply 12 1 Demand 35 50 the loss comsumu to aF Teu the taxes will. be a) 50 b) 1os d)170 e) 250 300 1O
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- Figure 8-5 Price P3 P1 P₂ a. A C. B d. D F -Tax- G 92 C E P2 and Q2 o b. P2 and Q1 X P1 and Q1 P3 and Q2 H Refer to Figure 8-5. What is the price sellers receive after the tax and the quantity sold? 9₁₂ S QuantityA per unit tax is imposed on the seller that shifts the supply curve to the left. Ceteris paribus, the greater the elasticity of demand, the ______. Select all that apply. A. smaller is the burden of the tax on the consumers. B. larger is the burden of the tax on the consumers C. smaller is the burden of the tax on the producers D. larger is the burden of the tax on the producersQuestion A local government is considering introducing a tax on gasoline or a tax on new cars. Which good hould they tax if they want to minimize deadweight loss they create? New cars Gasoline Tax both goods because neither tax will create deadweight loss OIt doesn't matter because both taxes would create the same amount of deadweight loss
- Question Arrange the following revenues in the federal government, from greatest to least. (1 being the greatest, 6 being the least.) Column A 1. 2. 3. 4. 5. 6. Individual Income Taxes Social Security and Medicare Taxes Corporate Income Taxes Excise Taxes Miscellaneous Revenue Customs Duties Column B a. 4 Select the three correct answers. O a Medicare and Medicaid Ob military and defense Uc state and local governments. Ud Federal Bureau of Investigation De education and transportation A f Social Security b. 2 c. 5 d. 1 e. 6 f. 3 Questio Which items are part of mandatory spending in the federal government?A technology change shts the inverse eply function from 1+3y to p1+g verse demand is p21- Which of the following statements are te in epubrium 1 Producer surplua inoreases Gtion8 2 Consumer surplus increases 3 Ouantity doubles a None 1 and 2 C 12 and 3 d 1 and 3 Vour aner ie inconect The conect aswer 12 and 3 The government wanta to impose a $3 per unit tax on sugar to reduce sugar consumption. is known that tases wil result in a deadweight los Given the supply function is -3p. which of the folowing inverse demand function will result in the smalest deadweight loss? Guesti9 000 p out a Insufficient information to conclude p-700-24 p-1000-3y TUur answera inconec$12 10 4500 5000 Quantity Consider the impact of a tax on sellers, shown in this diagram of the market for whiskey. In this case, the buyers' total share is and the sellers' total share is $500; $500 $6750; $6750 $9000; $450O None of the above are correct.
- Figure 8-1 P' P" P tPrice J K L Zi I+Y. M K+L. N ****** ...... B Refer to Figure 8-1. Suppose the government imposes a tax of P - P". The tax revenue is measured by the area J+K+L+M. Supply I+J+K+L+M+Y. Demand QuantityFigure 4-5. The graph shows the impact of an excise tax. Price $2.00 1.50 1.00 .50 B A M E H K I 350 F 500 Quantity tax G Stax $1.00 for consumers and $0.50 for producers $1.00 for consumers and $1.00 for producers. $0.25 for consumers and $0.75 for producers. $0.50 for consumers and $0.50 for producers. S DSR Refer to Figure 4-5. The amount of the actual tax burden paid by consumers and producers isP' P" P" Price J K L M N BO Demand Quantity Suppose the government imposes a tax of P-P. The area given by I + Y represents... a. deadweight loss of taxation b. government revenue Supply c. consumer surplus after tax d. total surplus after tax
- Suppose that your state raises its sales tax from5 percent to 6 percent The state revenue commissionerlo~asts a 20 percent increase in sales tax revenue.Is this plausible? Explain.Homework 4 Compatibility Mode OSearch Josep ayout Mailings Review View Help Text Box References 12 -A A Aa A E E-E 三 AaBbCcl AaBbCel AaBbC AaB AoBbcct 1 Normal 1 No Spac. Heading 1 Title Subtitle b x, x A- .A EEE- E- Styles Font Paragraph 4. The three diagrams show the market for blue cod. The demand curve for cod is the same in each scenario. Scenario A represents market day; all of the fishing is done for the day, so price does not affect supply: supply is perfectly inelastic. Scenario B represents the short term, in which fishing boat captains can change a little what they do in response to a price change, but not much. Scenario C represents the market a year from now, when captains can decide to move to a different market, sell or buy boats, hire or fire crews, etc... so in Scenario C, supply is much more responsive to a price change. Scenario A Scenario B Scenario C Pe Pe Pe Focus 23 hp 144 IDI %23 & 3. 4 5. 6. 7. 8. %24Figure 6-8 Price $9 00 8 7 5 44 3 2 1 0 10 20 30 40 50 60 70 Quantity Refer to Figure 6-8. What is the price buyers will pay after the tax is imposed? a. $5.00 O b. $7.00 Oc. $6.00 Od. $8.00
