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IBE316quiz5 - IBE316 Economic Policy Quiz#5 Name ID 1 What...

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IBE316: Economic Policy Quiz #5 Name: ID: 1. What is NOT true about tax revenues in the US and in Japan? A) The share of individual income tax is larger in the US. B) The share of payroll tax is much smaller in Japan. C) Excise taxes are falling in both countries. D) None of the above. 2. What is true about the automatic (built-in) stabilizing effect of progressive taxation? A) Government expenditures increase during recessions. B) Government expenditures decrease during recessions. C) Taxes fall during recessions. D) Taxes rise during recessions. 3. What is true about a Pareto efficient tax system? A) It does not exist since taxes are always distortionary. B) It can be found using a social welfare function. C) The most preferable Pareto efficient tax system should be chosen using a social welfare function. D) The set of Pareto efficient allocations depend on the shape of the social welfare function. 4. The difference between partial and general equilibrium analysis is that A)
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