Micro.Week5.2007 - 5/0 Upcoming exams TERM TEST#1 worth 20 FRIDAY OCTOBER 26 3 p.m(rooms to be announced TERM TEST#2 worth 30 FRIDAY NOVEMBER 16 3

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5/0 Upcoming exams: TERM TEST #1, worth 20% FRIDAY OCTOBER 26 3 p.m. (rooms to be announced) TERM TEST #2, worth 30% FRIDAY NOVEMBER 16 3 p.m. (rooms to be announced) Note: If you miss term exam, no makeup, weight automatically shifts to final. ONE EXCEPTION: Second term test conflicts with Management Conference (LIVE) Students participating in LIVE will have scheduled makeup, if they wish
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Another “neat” application: In general, burden of tax exceeds the revenue collected by government. Several obvious reasons: 1. It costs money for taxpayers to figure out what to do and to fill out forms, or pay accountants to do so (compliance costs). 2. It costs money for government to collect forms, process them, count money, etc. (administrative costs). 3. It costs money for government to look for cheaters and punish them (enforcement costs). But beyond this, and of key interest to economists: 4. Taxes alter behaviour, leading to inefficiency. We call this
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This note was uploaded on 06/13/2011 for the course ECON A04 taught by Professor Mk during the Spring '07 term at University of Toronto- Toronto.

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Micro.Week5.2007 - 5/0 Upcoming exams TERM TEST#1 worth 20 FRIDAY OCTOBER 26 3 p.m(rooms to be announced TERM TEST#2 worth 30 FRIDAY NOVEMBER 16 3

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