1. Empirical work has determined that the price elasticity of demand for basic cable TV
service is -0.51, and that the price elasticity of demand for satellite TV is -7.40. Suppose
that a town wants to raise revenue by taxing cable TV and satellite TV ser
PAST EXAMINATION QUESTIONS AND SUGGESTED SOLUTIONS
1. Income inequality has attracted attention in the press recently.
a. How is inequality in income and wealth measured? What is the unit of observation?
Since households make economic decis
Poverty and Anti-Poverty
What is poverty?
How is it measured?
What do the data tell us?
The analytics of U.S. anti-poverty programs.
ECON 3440 - Prof. Wassall
Issues in Measuring Poverty
Relative vs. absolute poverty measures.
What Is Insurance?
An insurance premium is money paid to
an entity so that an individual paying the
premium will be insured against adverse
The premium is paid in return for a
guarantee of compensation given a
Income and Wealth
Overview of Topics
How do we measure inequality?
What do we find for inequality of income?
What do we find for inequality of wealth?
How does the U.S. compare to the rest of the
What factors drive inequality?
What are Old Age Pensions?
Income supplements provided by government
toward the end of life, primarily to provide
financial support during retirement.
Virtually all first-world countries (and many
others) provide some type of inc
Incidence, Efficiency and
What is Tax Incidence?
statutory incidence of a tax
indicates who is legally responsible for
paying the tax.
The economic incidence of a tax is
reflected in the change in the
distribution of income cau
Introduction to Taxation
Taxation, According to George Harrison
Let me tell you how it will be;
There's one for you, nineteen for me.
'Cause Im the taxman, Yeah, Im the taxman.
Should five per cent appear too small,
Be thankful I don't take it a