0 [{"id":513032,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:04:43","updated_at":"2018-07-28 21:10:30","questionName":"Labor taxes may distort labor markets greatly if:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":8,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513034,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:07:07","updated_at":"2018-07-28 21:10:30","questionName":"Taxes on labor have the effect of encouraging:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":10,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513024,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 19:53:37","updated_at":"2018-07-28 21:10:30","questionName":"Sellers of a product will bear the larger part of the tax burden, and buyers will bear a smaller part of the tax burden, when the:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":0,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513031,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:03:29","updated_at":"2018-07-28 21:10:30","questionName":"Other things equal, the deadweight loss of a tax:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":7,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513029,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:01:01","updated_at":"2018-07-28 21:10:30","questionName":"The amount of deadweight loss that results from a tax of a given size is determined by:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":5,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513025,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 19:54:44","updated_at":"2018-07-28 21:10:30","questionName":"When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":1,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513027,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 19:57:43","updated_at":"2018-07-28 21:10:30","questionName":"The deadweight loss from a $2 tax will be smallest in a market with:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":3,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513035,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:08:26","updated_at":"2018-07-28 21:10:30","questionName":"Concerning the labor market and taxes on labor, economists disagree about:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":11,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513037,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:11:38","updated_at":"2018-07-28 21:10:30","questionName":"Suppose the tax on liquor is increased so that the tax goes from being a \"medium\" tax to being a \"large\" tax. As a result, it is likely that:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":13,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513033,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:05:58","updated_at":"2018-07-28 21:10:30","questionName":"Economists disagree on whether labor taxes cause small or large deadweight losses. This disagreement arises primarily because economists hold different views about:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":9,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513036,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:10:18","updated_at":"2018-07-28 21:10:30","questionName":"An increase in the size of a tax is most likely to increase tax revenue in a market with:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":12,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513028,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 19:59:16","updated_at":"2018-07-28 21:10:30","questionName":"Suppose a tax of $1 per unit is imposed on a good. The more elastic the demand for the good, other things equal:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":4,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513026,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 19:56:24","updated_at":"2018-07-28 21:10:30","questionName":"When a tax is imposed on a good for which both demand and supply are very elastic:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":2,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513030,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:02:14","updated_at":"2018-07-28 21:10:30","questionName":"Consider a good to which a per-unit tax applies. The greater the price elasticities of demand and supply for the good, the:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":6,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null},{"id":513038,"quiz_id":"26097","answer_id":null,"answerType_id":"0","created_at":"2018-07-28 20:13:55","updated_at":"2018-07-28 21:10:30","questionName":"Analyzing the behavior of the firm enhances our understanding of:","questionTimeSeconds":"0","questionTimeMinutes":"1","questionImagePath":null,"position":14,"explanation":"","question_score_id":null,"lang":"","questionAudioPath":null}]

block

Labor taxes may distort labor markets greatly if:

Select the correct answer(s).  

(0/0)

---

the number of hours many part-time workers want to work is very sensitive to the wage rate

“underground” workers do not respond to changes in the wages of legal jobs because they prefer not to pay taxes

labor supply is highly inelastic

many workers choose to work 40 hours per week regardless of their earnings

none

Taxes on labor have the effect of encouraging:

Select the correct answer(s).  

(0/0)

---

the elderly to postpone retirement

workers to work more hours

unscrupulous people to take part in the underground economy

second earners within a family to take a job

none

Sellers of a product will bear the larger part of the tax burden, and buyers will bear a smaller part of the tax burden, when the:

Select the correct answer(s).  

(0/0)

---

tax is placed on the sellers of the product

supply of the product is more elastic than the demand for the product

demand for the product is more elastic than the supply of the product

tax is placed on the buyers of the product

none

Other things equal, the deadweight loss of a tax:

Select the correct answer(s).  

(0/0)

---

increases as the size of the tax increases, and the increase in the deadweight loss is more rapid than the increase in the size of the tax

decreases as the size of the tax increases

increases as the size of the tax increases, but the increase in the deadweight loss is less rapid than the increase in the size of the tax

increases as the price elasticities of demand and/or supply increase, but the deadweight loss does not change as the size of the tax increases

none

The amount of deadweight loss that results from a tax of a given size is determined by:

Select the correct answer(s).  

(0/0)

---

the number of buyers in the market relative to the number of sellers

the ratio of the tax per unit to the effective price received by sellers

the price elasticities of demand and supply

whether the tax is levied on buyers or sellers

none

When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic:

Select the correct answer(s).  

(0/0)

---

sellers of the good will bear most of the burden of the tax

buyers of the good will bear most of the burden of the tax

buyers and sellers will each bear 50 percent of the burden of the tax

both equilibrium price and quantity will increase

none

The deadweight loss from a $2 tax will be smallest in a market with:

Select the correct answer(s).  

(0/0)

---

elastic demand and elastic supply

inelastic demand and elastic supply

elastic demand and inelastic supply

inelastic demand and inelastic supply

none

Concerning the labor market and taxes on labor, economists disagree about:

Select the correct answer(s).  

(0/0)

---

the size of the deadweight loss of the tax on labor

whether or not a tax on labor places a wedge between the wage that firms pay and the wage that workers receive

the size of the tax on labor

All of the above are correct

none

Suppose the tax on liquor is increased so that the tax goes from being a "medium" tax to being a "large" tax. As a result, it is likely that:

Select the correct answer(s).  

(0/0)

---

tax revenue decreases, and the deadweight loss increases

tax revenue increases, and the deadweight loss increases

tax revenue decreases, and the deadweight loss decreases

tax revenue increases, and the deadweight loss decreases

none

Economists disagree on whether labor taxes cause small or large deadweight losses. This disagreement arises primarily because economists hold different views about:

Select the correct answer(s).  

(0/0)

---

the size of labor taxes

the importance of labor taxes imposed by the federal government relative to the importance of labor taxes imposed by the various states

the elasticity of labor demand

the elasticity of labor supply

none

An increase in the size of a tax is most likely to increase tax revenue in a market with:

Select the correct answer(s).  

(0/0)

---

elastic demand and inelastic supply

elastic demand and elastic supply

inelastic demand and elastic supply

inelastic demand and inelastic supply

none

Suppose a tax of $1 per unit is imposed on a good. The more elastic the demand for the good, other things equal:

Select the correct answer(s).  

(0/0)

---

the larger is the deadweight loss of the tax

the smaller is the tax burden on buyers relative to the tax burden on sellers

the larger is the decrease in quantity demanded as a result of the tax

All of the above are correct

none

When a tax is imposed on a good for which both demand and supply are very elastic:

Select the correct answer(s).  

(0/0)

---

buyers effectively pay the majority of the tax

None of the above is correct; further information would be required to determine how the burden of the tax is distributed between buyers and sellers

the tax burden is equally divided between buyers and sellers

sellers effectively pay the majority of the tax

none

Consider a good to which a per-unit tax applies. The greater the price elasticities of demand and supply for the good, the:

Select the correct answer(s).  

(0/0)

---

smaller the deadweight loss from the tax

greater the deadweight loss from the tax

more equitable is the distribution of the tax burden between buyers and sellers

more efficient is the tax

none

Analyzing the behavior of the firm enhances our understanding of:

Select the correct answer(s).  

(0/0)

---

what decisions lie behind the market supply curve

how consumers allocate their income to purchase scarce resources

whether resources are allocated fairly

how financial institutions set interest rates