The graph above represents the market for a product where D 1 and S 1 show the

The graph above represents the market for a product

  • Boston University
  • BUSINESS 221
  • Test Prep
  • aguielra
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97. The graph above represents the market for a product where D1and S1show the initial supply and demand curves, and supply shifts to S2due to a sales tax. The government's tax revenue is represented by area: A. FIJGB.ACEGC. BCEFD. ABFGAACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 1 EasyLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss98. The graph above represents the market for a product where D1and S1show the initial supply and demand curves, and supply shifts to S2due to a sales tax. The deadweight loss due to the tax is represented by area: A.EIGB. EFIC. BCEFD. ABFGAACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 1 EasyLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency LossThe following table give data for the market for a product.16-71
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Chapter 16 - Public Finance: Expenditures and Taxes99. Refer to the table above. What is the equilibrium price and quantity in this market? A. $6 and 60, respectivelyB. $5 and 30, respectivelyC.$3 and 30, respectivelyD. $30 and 3, respectivelyAACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 1 EasyLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss100. Refer to the table above. If an excise tax of $3 per unit is imposed on this product, the new equilibrium price with tax will be: A. $6B.$5C. $4D. $2AACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 3 HardLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss101. Refer to the table above. If an excise tax of $3 per unit is imposed on this product, the incidence of the tax will be: A. $3 on the buyers and $0 on the sellersB. $0 on the buyers and $3 on the sellersC.$2 on the buyers and $1 on the sellersD. $1 on the buyers and $2 on the sellersAACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 3 HardLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss16-72
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Chapter 16 - Public Finance: Expenditures and Taxes102. Refer to the table above. If an excise tax of $3 per unit is imposed on this product, the taxrevenue for the government will be: A.$60B. $50C. $90D. $70AACSB: AnalyticBloom's: Level 3 ApplyDifficulty: 3 HardLearning Objective: 16-03 Explain the principles relating to tax shifting; tax incidence; and the efficiency losses caused by taxes.Topic: Tax Incidence and Efficiency Loss
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