Chap018 - Chapter 18 Taxes Equity vs Efficiency Chapter 18...

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Calculus: Early Transcendental Functions
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Chapter 7 / Exercise 77
Calculus: Early Transcendental Functions
Edwards/Larson
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Chapter 18: Taxes: Equity vs. EfficiencyChapter 18: Taxes: Equity vs. EfficiencyMultiple Choice QuestionsWHAT IS INCOME? 1.Personal income: A)Is the sum of wealth and in-kind income. B)Is the sum of taxes, in-kind income, and personal consumption. C)Is a good measure of the distribution of output. D)Is the income received by households before payment of personal taxes. Answer: D
Type: Analytical Page: 375 2.Personal income measures:
Type: Definition Page: 375 3.In-kind benefits are an appropriate mechanism for correcting:
Type: Complex Understanding Page: 375 4.Food stamps are an example of:
Type: Definition Page: 375 5.Public housing and subsidized public education are examples of: A)In-kind income. B) Free goods. C) Money income. D) Tax expenditures. Answer: A
Type: Definition Page: 375 6.Income is measured as:
Type: Definition Page: 375 Page 1
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Calculus: Early Transcendental Functions
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Chapter 7 / Exercise 77
Calculus: Early Transcendental Functions
Edwards/Larson
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Chapter 18: Taxes: Equity vs. Efficiency7.Wealth refers to:
Type: Definition Page: 375 8.Wealth is measured as:
Type: Definition Page: 375 9.Wealth: A)Represents a stock of potential purchasing power. B)Is the market value of assets. C)Tends to be distributed much less equally than income. D)All of the above. Answer: D
Type: Basic Understanding Page: 375 10.The difference between personal income and wealth is that:
Type: Basic Understanding Page: 375 THE SIZE DISTRIBUTION OF INCOME 11.The distribution of income is best measured using:
Type: Definition Page: 375

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