Pre-Test Chap 17 e18 - Pre-Test Chap 17 e18 Student 1 The...

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Pre-Test Chap 17 e18 Student: ___________________________________________________________________________ 1. The incidence of taxation refers to: A. Who in society actually pays the tax B. The structure of basic income tax rates C. Whether taxes are progressive or regressive D. Whether or not the benefits-received principle applies A supply and demand graph for a product on which an excise tax has been imposed by government. 2. Refer to the above graph. What is the area that represents the efficiency loss of the tax? A. XYT B. XYZ C. WXZU D. WXYZU 3. Which statement is correct? 4. The concept of limited choices, as used in public choice theory, refers to the fact that: A. Politicians may not be objective in evaluating economic policy programs B. Because of the importance of television and other modern communication techniques, the best and brightest candidates may not be selected by voters C. Voters must select a candidate who represents a "bundle" of various public policy programs and who can't register support or opposition for specific programs D. The most economically efficient public policy programs may not be selected because political leaders do not know enough about economics
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