Test Bank For Microeconomics Principles, Applications, and Tools 13th Edition All Chapters

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Test Bank for Microeconomics Fifth Edition
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Name TestBanksgChapterg07:gTaxes
Descriptiong QuestiongpoolgforgTestBanksgChapterg07:gTaxes
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g MultiplegChoice 0gpoints

Question
SupposegtheggovernmentgdecidesgtogfightgobesitygingAmericagbygimposinggangexcisegtaxgba
sedgongthegsaturatedgfatgcontentgofgfood.gThegeffectgofgthisgtaxgwouldgbegto:
Answer
glowergthegprofitsgofgicegcreamgsupplie

rs.gdecreasegrevenuegforgtheggovernm
ent.gdecreasegblackgmarketgactivity.
raisegthegprofitsgofgicegcreamgsuppliers.

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MultiplegChoice 0gpoints

Question
Supposegtheggovernmentgimposesgag$10gexcisegtaxgongthegsalegofgsweatersgbygcharginggs
uppliersg$10gforgeachgsweatergsold.gUsinggeconomicganalysis,gwegwouldgpredictgthat:
Answer thegpricegofgsweatersgwillgincreasegbyg$10.
consumersgofgsweatersgwillgbeargthegentiregburdengofgthegt
ax.g
gthegpricegofgsweatersgwillgincreasegbutgbyglessgthang$10.

thegpricegofgsweatersgwillgdecreasegbyg$10.

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g MultiplegChoice 0gpoints

Question
Angexcisegtaxgthatgtheggovernmentgcollectsgfromgthegproducersgofgaggo
od:
Answer g shiftsgthegsupplygcurvegupward.

causesgaglossgofgrevenuegforgtheggovernment.g
hasgagsimilargeffectgasgagtaxgsubsidy.
shiftsgthegsupplygcurvegdownward.

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MultiplegChoice 0gpoints

Question
Recently,gtheggovernmentgconsideredgaddinggangexcisegtaxgongCDsgthatgcangbegusedgtogre
cordgmusicgandgCDgplayersgthatgcangrecordgdiscs.gIfgthisgtaxgweregenacted,gwegwouldgexp
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g thatgconsumersgwouldgpaygaghighergpricegandgproducersgwouldgsellgfewergofgth
esegCDsgandgCDgplayersgthangbeforegthegtax.
nogeffectgongthegconsumptiongorgthegpricesgpaidgbygconsumersgofgthesegCDsg
andgCDgplayers.
thatgconsumersgwouldgpaygaglowergpricegandgproducersgwouldgreceivegaghighe
rgpricegforgthesegCDsgandgCDgplayersgthangbeforegthegtax.
angincreasegingeconomicgactivitygduegtogthegtax.

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MultiplegChoice 0gpoints

Question
Ifgangexcisegtaxgisgimposedgongautomobilesgandgcollectedgfromgconsumers,
Answerg
gthegdemandgcurvegwillgshiftgdownwardgbygthegamountgofgthegt

ax.gthegsupplygcurvegwillgshiftgupwardgbygthegamountgofgthegta
x.
thegequilibriumgquantitygsuppliedgwillgincreasegrelativegtogthegpre-
taxglevel.gthegequilibriumgquantitygdemandedgwillgincreasegrelativegtogthegp
re-taxglevel.

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MultiplegChoice 0gpoints

Question
Thegincidencegofgagtax:
Answer
isgagmeasuregofgthegrevenuegtheggovernmentgreceivesgfromgth
egtax.grefersgtogwhogwritesgthegcheckgtogtheggovernment.

grefersgtoghowgmuchgofgthegtaxgisgactuallygpaidgbygconsumersgandgproduc

ers.gisgagmeasuregofgthegdeadweightglossgfromgthegtax.

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MultiplegChoice 0gpoints

Question
Angexcisegtaxgcausesginefficiencygbecausegthegnumbergofgtransactionsgingagmarketgisgredu
ced.gBecausegthegtaxgdiscouragesgmutuallygbeneficialgtransactions,gtheregisga(n)
fromgag
tax.
Answer quotagrent
gdeadweightgloss

increasedgconsumergsurplu
sgincreasedgproducergsurpl
us

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MultiplegChoice 0gpoints

Question
Byglaw,gFICAg(thegFederalgInsurancegContributionsgAct),gagpayrollgtax,gisgcollectedgequallygf
romgthegemployersgandgthegemployees.gIngreality:

3 5/26/2013g11:04
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