Ex3Wed

Ex3Wed - Has your clicker response been recorded properly...

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Unformatted text preview: Has your clicker response been recorded properly in the last 2 classes? 1. Yes, no problems. 2. I had problems earlier, but now its fine. 3. I am still having problems. 4. I haven’t checked. 53% 29% av d. en ’t ch ec ke pr o. .. Ih ha vi st ill Ia m 5% ng ea r li er ... le m s pr ob ha d Ye s, n o pr ob l em s. 12% The effect on price of a sales tax collected from buyers is the same as the effect of 1. An upward shift of the demand curve. 2. A downward shift of the demand curve . 3. An upward shift of the supply curve. 4. A downward shift of the supply curve. 93% f sh ift o ift sh ar d ar d f. .. of t.. 3% 1 ift o sh ar d ar d sh ift of t.. 3% The demand curve has slope –1 and the supply curve has slope +2. A sales tax causes the after tax price to buyers to rise by $10. The after tax price received by sellers must have fallen 1. 2. 3. 4. By $10 By $5 By $20 By $0 53% 27% 15% 5% And on to our lecture… If the supply curve is vertical, the excess burden of a sales tax is 97% n th a or e M x. .. ta ha lf th e ta x. .. he lf t ha th an Le ss e qu an t it y so ld tim .. Ze ro 2% 0% 1% Th 1. Zero 2. The quantity sold times the tax rate. 3. Less than half the tax revenue. 4. More than half the tax revenue. If the supply curve is horizontal, a $10 increase in the sales tax will cause the equilibrium after tax price to rise by 88% 1. By $10. 2. By less than $10. 3. By more than $10. $1 0 . 2% an $1 0. an B y $1 0. 10% And back to our lecture… ...
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Ex3Wed - Has your clicker response been recorded properly...

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