Question :
21.Ataxleviedonthesellersofblueberries
a.increasessellers’costs,reducesprofits,andshiftsthesupplycurveup.
b.increasessellers’costs,reducesprofits,andshiftsthesupplycurvedown.
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21.Ataxleviedonthesellersofblueberries
a.increasessellers’costs,reducesprofits,andshiftsthesupplycurveup.
b.increasessellers’costs,reducesprofits,andshiftsthesupplycurvedown.
c.decreasessellers’costs,increasesprofits,andshiftsthesupplycurveup.
d.decreasessellers’costs,increasesprofits,andshiftsthesupplycurvedown.
22.Ataxonsellerswillshiftthe
a.demandcurveupwardbytheamountofthetax.
b.demandcurvedownwardbytheamountofthetax.
c.supplycurveupwardbytheamountofthetax.
d.supplycurvedownwardbytheamountofthetax.
23.Whenataxisimposedonthesellersofagood,thesupplycurveshifts
a.upwardbytheamountofthetax.
b.downwardbytheamountofthetax.
c.upwardbylessthantheamountofthetax.
d.downwardbylessthantheamountofthetax.
24.A$2.00taxleviedonthesellersofbirdhouseswillshiftthesupplycurve
a.upwardbyexactly$2.00.
b.upwardbylessthan$2.00.
c.downwardbyexactly$2.00.
d.downwardbylessthan$2.00.
25.A$0.10taxleviedonthesellersofchocolatebarswillcausethe
a.supplycurveforchocolatebarstoshiftdownby$0.10.
b.supplycurveforchocolatebarstoshiftupby$0.10.
c.demandcurveforchocolatebarstoshiftdownby$0.10.
d.demandcurveforchocolatebarstoshiftupby$0.10.
26.Whenataxisplacedonthesellersofaproduct,the
a.sizeofthemarketdecreases.
b.effectivepricereceivedbysellersdecreases,andthepricepaidbybuyersincreases.
c.supplyoftheproductdecreases.
d.Alloftheabovearecorrect.
27.Supposethereiscurrentlyataxof$50perticketonairlinetickets.Sellersofairlineticketsarerequiredtopaythetaxtothegovernment.Ifthetaxisreducedfrom$50perticketto$30perticket,thenthe
a.demandcurvewillshiftupwardby$20,andthepricepaidbybuyerswilldecreasebylessthan$20.
b.demandcurvewillshiftupwardby$20,andthepricepaidbybuyerswilldecreaseby$20.
c.supplycurvewillshiftdownwardby$20,andtheeffectivepricereceivedbysellerswillincreasebylessthan
d.supplycurvewillshiftdownwardby$20,andtheeffectivepricereceivedbysellerswillincreaseby$20.
28.Supposethereiscurrentlyataxof$50perticketonairlinetickets.Sellersofairlineticketsarerequiredtopaythetaxtothegovernment.Ifthetaxisreducedfrom$50perticketto$30perticket,thenthe
a.demandcurvewillshiftupwardby$20,andtheeffectivepricereceivedbysellerswillincreaseby$20.
b.demandcurvewillshiftupwardby$20,andtheeffectivepricereceivedbysellerswillincreasebylessthan
c.supplycurvewillshiftdownwardby$20,andthepricepaidbybuyerswilldecreaseby$20.
d.supplycurvewillshiftdownwardby$20,andthepricepaidbybuyerswilldecreasebylessthan$20.
29.Supposesellersofliquorarerequiredtosend$5.00tothegovernmentforeverybottleofliquortheysell.Further,supposethistaxcausesthepricepaidbybuyersofliquortoriseby$3.00perbottle.Whichofthefollowingstatementsiscorrect?
a.Thistaxcausesthesupplycurveforliquortoshiftupwardby$5.00ateachquantityofliquor.
b.Theeffectivepricereceivedbysellersis$5.00perbottlelessthanitwasbeforethetax.
c.Fortypercentoftheburdenofthetaxfallsonbuyers.
d.Alloftheabovearecorrect.
30.Ataxonthebuyersofsofas
a.increasesthesizeofthesofamarket.
b.decreasesthesizeofthesofamarket.
c.hasnoeffectonthesizeofthesofamarket.
d.mayincrease,decrease,orhavenoeffectonthesizeofthesofamarket.