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External link to Question : 31. Materials that can be directly traced to a particular product : 1291661
Economics

Question : 31. Materials that can be directly traced to a particular product : 1291661

  31. Materials that can be directly traced to a particular product and become an integral part of the finished product are called: A. indirect materials.B. direct materials.C. supplies.D. product materials.   32. When nonmanufacturing costs are subtracted from gross margin, the result is called: A. cost of goods sold.B. net operating income.C. sales.D. nonmanufacturing income.   33. Michael’s Manufacturing, Inc.Michael’s Manufacturing, Inc. has the following information available for the month of July:   Beginning Ending Raw materials inventory$40,000 $  62,000 […]

External link to Question : 15.4   Chapter Figures The figure above shows a firm’s total revenue : 1238772
Economics

Question : 15.4   Chapter Figures The figure above shows a firm’s total revenue : 1238772

  15.4   Chapter Figures   The figure above shows a firm’s total revenue and total cost curves.   1) Based on the figure above, when the firm maximizes its profit, it produces ________ cans per day. A) 0 B) more than 0 and less than 5 C) 5 or more but less than 10 D) 10 E) more than 10 2) To maximize its profit, […]

External link to Question : 91) If a country experiences growth in “total factor productivity” : 1384435
Economics

Question : 91) If a country experiences growth in “total factor productivity” : 1384435

  91) If a country experiences growth in “total factor productivity” (i.e., the “Solow residual”), then A) all growth in real GDP can be explained by growth in the labour force. B) all growth in real GDP can be explained by growth in the capital stock. C) there is some growth in real GDP that cannot be accounted for by growth in capital or the […]

External link to Question : 51) Tom Searchinger, a senior attorney at the Environmental Defense : 1245063
Economics

Question : 51) Tom Searchinger, a senior attorney at the Environmental Defense : 1245063

    51) Tom Searchinger, a senior attorney at the Environmental Defense Fund, observed that generous farm subsidies have encouraged farmers to produce more corn and more wheat. How does this affect the market for fertilizer? A) The supply of fertilizer increases. B) The supply of fertilizer decreases. C) The demand for fertilizer increases. D) The demand for fertilizer decreases.   52) In June, buyers […]

External link to Question : 21.Inwhichofthefollowinginstanceswouldthedeadweightlossofthetaxonairlineticketsincreasebyafactorof9? a.Thetaxonairlineticketsincreasesfrom$20perticketto$60perticket. b.Thetaxonairlineticke : 1262575
Economics

Question : 21.Inwhichofthefollowinginstanceswouldthedeadweightlossofthetaxonairlineticketsincreasebyafactorof9? a.Thetaxonairlineticketsincreasesfrom$20perticketto$60perticket. b.Thetaxonairlineticke : 1262575

  21.Inwhichofthefollowinginstanceswouldthedeadweightlossofthetaxonairlineticketsincreasebyafactorof9? a.Thetaxonairlineticketsincreasesfrom$20perticketto$60perticket. b.Thetaxonairlineticketsincreasesfrom$20perticketto$90perticket. c.Thetaxonairlineticketsincreasesfrom$15perticketto$60perticket. d.Thetaxonairlineticketsincreasesfrom$15perticketto$135perticket. 22.Inwhichofthefollowinginstanceswouldthedeadweightlossofthetaxoncartonsofcigarettesincreasebyafactorof9? a.Thetaxoncartonsofcigarettesincreasesfrom$10to$11.11. b.Thetaxoncartonsofcigarettesincreasesfrom$10to$20. c.Thetaxoncartonsofcigarettesincreasesfrom$10to$30. d.Thetaxoncartonsofcigarettesincreasesfrom$10to$90. 23.Whichofthefollowingeventsisconsistentwithanincreaseinthedeadweightlossofthegasolinetaxfrom$30millionto$120million? a.Thetaxongasolineincreasesfrom$0.30pergallonto$0.45pergallon. b.Thetaxongasolineincreasesfrom$0.30pergallonto$0.60pergallon. c.Thetaxongasolineincreasesfrom$0.25pergallonto$0.45pergallon. d.Thetaxongasolineincreasesfrom$0.25pergallonto$1.00pergallon. 24.AssumethatforgoodXthesupplycurveforagoodisatypical,upward-slopingstraightline,andthedemandcurveisatypicaldownward-slopingstraightline.Ifthegoodistaxed,andthetaxisdoubled,the a.baseofthetrianglethatrepresentsthedeadweightlossquadruples. b.heightofthetrianglethatrepresentsthedeadweightlossdoubles. c.deadweightlossofthetaxdoubles. d.Alloftheabovearecorrect. 25.AssumethatforgoodXthesupplycurveforagoodisatypical,upward-slopingstraightline,andthedemandcurveisatypicaldownward-slopingstraightline.Ifthegoodistaxed,andthetaxisdoubled,the a.baseofthetrianglethatrepresentsthedeadweightlossdoubles. b.heightofthetrianglethatrepresentsthedeadweightlossdoubles. c.deadweightlossofthetaxquadruples. d.Alloftheabovearecorrect. 26.AssumethatforgoodXthesupplycurveforagoodisatypical,upward-slopingstraightline,andthedemandcurveisatypicaldownward-slopingstraightline.Ifthegoodistaxed,andthetaxistripled,the a.baseofthetrianglethatrepresentsthedeadweightlosstriples. b.heightofthetrianglethatrepresentsthedeadweightlosstriples. c.deadweightlossofthetaxincreasesbyafactorofnine. d.Alloftheabovearecorrect. 27.Supposethetaxongasolineisdecreasedfrom$0.60pergallonto$0.40pergallon.Asaresult, a.taxrevenuenecessarilydecreases. b.thedeadweightlossofthetaxnecessarilydecreases. c.thedemandcurveforgasolinenecessarilybecomessteeper. d.thesupplycurveforgasolinenecessarilybecomesflatter. 28.Supposethatthemarketforlarge,64-ouncesoftdrinksinthetownofPudgyvilleischaracterizedbyatypical,downward-sloping,lineardemandcurveandatypical,upward-sloping,linearsupplycurve.Themarketisinitiallyinequilibriumwith1,000softdrinkssoldperday.Thenewly-electedMayorofPudgyvillewantstotax64-ouncesoftdrinks.Sheisconsideringeithera$0.10taxora$0.30tax.Herchiefeconomicadvisorestimatesthatthenumberofsoftdrinkssoldaftera$0.10taxwillbe900andaftera$0.30taxwillbe500.Whichtaxisbetter? a.The$0.10taxisbetterbecauseitraisesmorerevenueandcreatesalowerdeadweightlossthanthe$0.30tax. b.The$0.30taxisbetterbecauseitraisesmorerevenueandcreatesalowerdeadweightlossthanthe$0.10tax. c.Itisnotclearwhichtaxisbetterbecausealthoughthe$0.30taxraisesmoretaxrevenues,itcreatesalargerdeadweightlossthanthe$0.10tax. d.Itisnotclearwhichtaxisbetterbecausealthoughthe$0.10taxraisesmoretaxrevenues,itcreatesalargerdeadweightlossthanthe$0.30tax. 29.Withlineardemandandsupplycurvesinamarket,supposeataxof$0.20perunitonagoodcreatesadeadweightlossof$40.Ifthetaxisincreasedto$0.50perunit,thedeadweightlossfromthenewtaxwillbe a.$200. b.$250. c.$475. d.$625. 30.Thehigheracountry’staxrates,themorelikelythatcountrywillbe a.atthetopoftheLaffercurve. b.onthepositivelyslopedpartoftheLaffercurve. c.onthenegativelyslopedpartoftheLaffercurve. d.experiencingsmalldeadweightlosses.    

External link to Question : 1) With respect to consumption, investment, government purchases and net : 1384364
Economics

Question : 1) With respect to consumption, investment, government purchases and net : 1384364

  1) With respect to consumption, investment, government purchases and net exports, the national-income and product accounts measure A) desired expenditures in each of the categories. B) both actual and desired expenditures, since actual expenditure must equal desired expenditure in each category. C) the flow of saving at any income. D) neither actual nor desired expenditures. E) actual expenditures in each of the categories. 2) […]

External link to Question : 31. (p. 58) All of the following occurred during the Mexican Revolution EXCEPT: A. the : 1242200
Economics

Question : 31. (p. 58) All of the following occurred during the Mexican Revolution EXCEPT: A. the : 1242200

31. (p. 58) All of the following occurred during the Mexican Revolution EXCEPT:  A. the overthrow of dictator Díaz. B. the launching of the modern Mexican state. C. expulsion of foreigners. D. expulsion of North American businessmen. E. French arms support for the revolutionaries. 32. (p. 58) During the Mexican-American War, the ____, an Irish-American battalion, fought for the Mexicans against the United States.  A. San Patricios B. Irish Republican Guard C. Tex-Mexicans D. Runaways E. Los Niños Heroes 33. (p. 58) Which of […]

External link to Question : 51) When the value of nominal GDP increases from one : 1238425
Economics

Question : 51) When the value of nominal GDP increases from one : 1238425

  51) When the value of nominal GDP increases from one year to the next, we know that one or two things must have happened during that time: A) The nation produced fewer goods and services and/or prices fell for goods and services. B) Consumption expenditure increased and/or corporate profits increased. C) Investment increased and/or payments to employees increased. D) The nation produced more goods […]

External link to Question : 1) Which of the following the defining assumptions of the : 1384405
Economics

Question : 1) Which of the following the defining assumptions of the : 1384405

  1) Which of the following are the defining assumptions of the short run in macroeconomics? A) Factor prices are exogenous, and technology and factor supplies are changing. B) Factor prices adjust to output gaps, and technology and factor supplies are constant. C) Factor prices are exogenous, and technology and factor supplies are constant. D) Factor prices adjust to output gaps, and technology and factor […]

External link to Question : 131.Thomas Malthus’s model made the mistake of failing to consider: A. technological : 1378975
Economics

Question : 131.Thomas Malthus’s model made the mistake of failing to consider: A. technological : 1378975

    131.Thomas Malthus’s model made the mistake of failing to consider: A. technological progress. B. inflation. C. comparative advantage. D. scarcity. 132.Which type of statement is most likely to include the word “should”? A. Positive statement B. Normative statement C. Fair statement D. Factual statement 133.A normative statement is generally based upon: A. data that can be tested. B. a factual claim. C. moral beliefs. D. scientific fact. 134.A factual claim about how the world actually […]

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July 1, 2023
    

 

8.1   Taxes on Buyers and Sellers

1) Tax incidence is the

A) burden buyers have to absorb from a tax on goods and services.

B) burden sellers have to absorb from a tax on goods and services.

C) lost revenue the government endures from goods and services that are not taxed.

D) division of the burden of a tax between the buyer and the seller.

E) deadweight loss created by a tax.

2) Tax incidence is the

A) dollar amount of a tax, expressed as a percentage of the purchase price.

B) dollar amount of a tax per unit sold.

C) division of a tax burden between the buyer and seller.

D) amount of revenue collected by government on a specific good.

E) deadweight loss from the tax.

3) The incidence of a tax refers to

A) the division of the burden of a tax between buyers and sellers.

B) the deadweight loss that a tax generates.

C) the inefficiency of a tax.

D) the revenue collected by government because of a tax.

E) the division of the burden of a tax between the public and the government.

4) If a $10 sales tax is imposed on a good and the equilibrium price increases by $10, the tax is

A) split between buyers and sellers but not evenly.

B) paid fully by sellers.

C) paid fully by buyers.

D) split evenly between buyers and sellers.

E) perhaps split between buyers and sellers but it is impossible to determine the incidence without further information.

5) Sales taxes are usually collected from sellers, who view the tax as

A) resulting from a leftward of the demand curve.

B) an additional cost of selling the good.

C) an addition to the demand for the product.

D) an addition to profit.

E) the same as a rightward shift of the demand curve.

6) Imposing a sales tax on sellers of a product has an effect that is similar to which of the following?

A) a decrease in consumers' preferences for the good

B) an increase in the costs of production

C) an increase in demand for the good

D) a decrease in people's willingness to work

E) anything that decreases the demand and shifts the demand curve leftward

7) A sales tax imposed on sellers of a good

A) decreases the demand and shifts the demand curve rightward.

B) decreases the supply and shifts the supply curve leftward.

C) decreases both the demand and the supply and shifts both the demand and supply curves leftward.

D) decreases the supply and shifts the supply curve rightward.

E) has no effect on either the demand or the supply.

8) Suppose the government imposes a $1 per gallon per gallon tax on sellers of gasoline. As a result, the

A) supply curve shifts leftward.

B) supply curve shifts rightward.

C) demand curve shifts leftward.

D) demand curve shifts rightward.

E) demand and supply curves both shift leftward.

9) If a good has a tax levied on it, sellers respond to the price that excludes the tax and not the price with the tax because

A) the tax is handed over to the state directly by buyers.

B) sellers do not get to keep the tax revenue.

C) the demand for the good has decreased.

D) the quantity supplied of the good increases.

E) demanders pay none of the tax.

10) Neither the demand nor the supply of gasoline is perfectly elastic or inelastic. When the government increases the federal tax on gasoline, the effect on buyers is that the price they pay

A) rises.

B) falls.

C) does not change.

D) rises if the demand is inelastic and falls if the demand is elastic.

E) rises if the supply is inelastic and falls if the supply is elastic.

 

 

 

default image
July 1, 2023
    

 

8.1   Taxes on Buyers and Sellers

1) Tax incidence is the

A) burden buyers have to absorb from a tax on goods and services.

B) burden sellers have to absorb from a tax on goods and services.

C) lost revenue the government endures from goods and services that are not taxed.

D) division of the burden of a tax between the buyer and the seller.

E) deadweight loss created by a tax.

2) Tax incidence is the

A) dollar amount of a tax, expressed as a percentage of the purchase price.

B) dollar amount of a tax per unit sold.

C) division of a tax burden between the buyer and seller.

D) amount of revenue collected by government on a specific good.

E) deadweight loss from the tax.

3) The incidence of a tax refers to

A) the division of the burden of a tax between buyers and sellers.

B) the deadweight loss that a tax generates.

C) the inefficiency of a tax.

D) the revenue collected by government because of a tax.

E) the division of the burden of a tax between the public and the government.

4) If a $10 sales tax is imposed on a good and the equilibrium price increases by $10, the tax is

A) split between buyers and sellers but not evenly.

B) paid fully by sellers.

C) paid fully by buyers.

D) split evenly between buyers and sellers.

E) perhaps split between buyers and sellers but it is impossible to determine the incidence without further information.

5) Sales taxes are usually collected from sellers, who view the tax as

A) resulting from a leftward of the demand curve.

B) an additional cost of selling the good.

C) an addition to the demand for the product.

D) an addition to profit.

E) the same as a rightward shift of the demand curve.

6) Imposing a sales tax on sellers of a product has an effect that is similar to which of the following?

A) a decrease in consumers' preferences for the good

B) an increase in the costs of production

C) an increase in demand for the good

D) a decrease in people's willingness to work

E) anything that decreases the demand and shifts the demand curve leftward

7) A sales tax imposed on sellers of a good

A) decreases the demand and shifts the demand curve rightward.

B) decreases the supply and shifts the supply curve leftward.

C) decreases both the demand and the supply and shifts both the demand and supply curves leftward.

D) decreases the supply and shifts the supply curve rightward.

E) has no effect on either the demand or the supply.

8) Suppose the government imposes a $1 per gallon per gallon tax on sellers of gasoline. As a result, the

A) supply curve shifts leftward.

B) supply curve shifts rightward.

C) demand curve shifts leftward.

D) demand curve shifts rightward.

E) demand and supply curves both shift leftward.

9) If a good has a tax levied on it, sellers respond to the price that excludes the tax and not the price with the tax because

A) the tax is handed over to the state directly by buyers.

B) sellers do not get to keep the tax revenue.

C) the demand for the good has decreased.

D) the quantity supplied of the good increases.

E) demanders pay none of the tax.

10) Neither the demand nor the supply of gasoline is perfectly elastic or inelastic. When the government increases the federal tax on gasoline, the effect on buyers is that the price they pay

A) rises.

B) falls.

C) does not change.

D) rises if the demand is inelastic and falls if the demand is elastic.

E) rises if the supply is inelastic and falls if the supply is elastic.

 

 

 

default image
July 1, 2023
    

 

8.1   Taxes on Buyers and Sellers

1) Tax incidence is the

A) burden buyers have to absorb from a tax on goods and services.

B) burden sellers have to absorb from a tax on goods and services.

C) lost revenue the government endures from goods and services that are not taxed.

D) division of the burden of a tax between the buyer and the seller.

E) deadweight loss created by a tax.

2) Tax incidence is the

A) dollar amount of a tax, expressed as a percentage of the purchase price.

B) dollar amount of a tax per unit sold.

C) division of a tax burden between the buyer and seller.

D) amount of revenue collected by government on a specific good.

E) deadweight loss from the tax.

3) The incidence of a tax refers to

A) the division of the burden of a tax between buyers and sellers.

B) the deadweight loss that a tax generates.

C) the inefficiency of a tax.

D) the revenue collected by government because of a tax.

E) the division of the burden of a tax between the public and the government.

4) If a $10 sales tax is imposed on a good and the equilibrium price increases by $10, the tax is

A) split between buyers and sellers but not evenly.

B) paid fully by sellers.

C) paid fully by buyers.

D) split evenly between buyers and sellers.

E) perhaps split between buyers and sellers but it is impossible to determine the incidence without further information.

5) Sales taxes are usually collected from sellers, who view the tax as

A) resulting from a leftward of the demand curve.

B) an additional cost of selling the good.

C) an addition to the demand for the product.

D) an addition to profit.

E) the same as a rightward shift of the demand curve.

6) Imposing a sales tax on sellers of a product has an effect that is similar to which of the following?

A) a decrease in consumers' preferences for the good

B) an increase in the costs of production

C) an increase in demand for the good

D) a decrease in people's willingness to work

E) anything that decreases the demand and shifts the demand curve leftward

7) A sales tax imposed on sellers of a good

A) decreases the demand and shifts the demand curve rightward.

B) decreases the supply and shifts the supply curve leftward.

C) decreases both the demand and the supply and shifts both the demand and supply curves leftward.

D) decreases the supply and shifts the supply curve rightward.

E) has no effect on either the demand or the supply.

8) Suppose the government imposes a $1 per gallon per gallon tax on sellers of gasoline. As a result, the

A) supply curve shifts leftward.

B) supply curve shifts rightward.

C) demand curve shifts leftward.

D) demand curve shifts rightward.

E) demand and supply curves both shift leftward.

9) If a good has a tax levied on it, sellers respond to the price that excludes the tax and not the price with the tax because

A) the tax is handed over to the state directly by buyers.

B) sellers do not get to keep the tax revenue.

C) the demand for the good has decreased.

D) the quantity supplied of the good increases.

E) demanders pay none of the tax.

10) Neither the demand nor the supply of gasoline is perfectly elastic or inelastic. When the government increases the federal tax on gasoline, the effect on buyers is that the price they pay

A) rises.

B) falls.

C) does not change.

D) rises if the demand is inelastic and falls if the demand is elastic.

E) rises if the supply is inelastic and falls if the supply is elastic.

 

 

 

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550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

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Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

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Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

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Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

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Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

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