If only current income is considered, beer taxes are _____. If lifetime income is considered, however, beer taxes are _____. a. regressive; progressive b. regressive; proportional c. progressive; regressive d. proportional; progressive ANSWER a
Date: September 9th, 2020
If a public good never becomes congested _____. a. the optimal number of users is infinite b. it is evidence that it has been under produced c. marginal costs are equal to average costs across the entire range of output d. the marginal reduction in cost per user curve is flat ANSWER a
Date: September 9th, 2020
In 1952, there were _____ school districts in the United States. a. fewer than 15,000 b. around 30,000 c. around 45,000 d. more than 60,000 ANSWER d
Date: September 9th, 2020
In 2002, there were _____ school districts in the United States. a. fewer than 15,000 b. around 30,000 c. around 45,000 d. more than 60,000 ANSWER a
Date: September 9th, 2020
Suppose Joe’s utility for lobster (L) and soda (S) can be represented as U = L0.5 S0.5. Joe walks into a restaurant with $72. Lobsters cost $18 each and sodas cost $2 each. How much lobster and soda will Joe consume if he intends to spend all his money? (There are no tax and no […]
Date: September 9th, 2020
A tax that taxes a larger percentage of an individual’s income as their income rises is called a _____. a. proportional tax b. progressive tax c. head tax d. regressive tax ANSWER b
Date: September 9th, 2020
The optimal collective decision rule is found where _____. a. decision-making costs are minimized b. the sum of the external and decision-making costs are minimized c. marginal political costs and marginal political benefits are equalized d. external costs are minimized ANSWER b
Date: September 9th, 2020
A tax that takes a smaller percentage of an individual’s income as their income rises is called a _____. a. proportional tax b. progressive tax c. sumptuary tax d. regressive tax ANSWER d
Date: September 9th, 2020
Economic status tends to be passed on from one generation to the next _____. a. regardless of the monetary wealth that is transmitted from parents to children b. because of the monetary wealth that is transmitted from parents to children c. in nearly all societies d. a and c ANSWER d
Date: September 9th, 2020
The percentage of elementary and secondary educational expenditures financed by the federal government _____ between 1940 and 2000. a. increased from 5 to 10 percent b. increased from 2 to 7 percent c. stayed relatively constant around 5 percent d. increased from 3 to 13 percent ANSWER b
Date: September 9th, 2020
