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Economics Mcqs

If we consider the impact on both consumers and producers, then protection of the steel industry is ?

Economics Mcqs, Tariffs /
If we consider the impact on both consumers and producers, then protection of the steel industry is ?

A. In the interest of the U.S as a whole but not in the interest of the state of Pennsylvania where steel mills are located
B. In the interest of the U.S as a whole and in the interest of the state of Pennsylvania
C. Not in the interest of the U.S as a whole, but it might be in the interest of the state of Pennsylvania
D. Not in the interest of the U.S as a whole, nor in the interest of the state of Pennsylvania

If we consider the impact on both consumers and producers, then protection of the steel industry is ? Read More »

Economics Mcqs, Tariffs

Sana values a pair of blue jeans at Rs400. If the price is Rs350 Sana buys the jeans and generates consumer surplus of Rs50 Suppose a tax is placed on blue jeans that causes the price of blue jeans to rise to Rs450 Now sana chooses not to buy a pair of?

Economics Mcqs, Taxation /
Sana values a pair of blue jeans at Rs400. If the price is Rs350 Sana buys the jeans and generates consumer surplus of Rs50 Suppose a tax is placed on blue jeans that causes the price of blue jeans to rise to Rs450 Now sana chooses not to buy a pair of?

A. the deadweight has demonstrated
B. the ability-to-pay principle
C. the benefits principle
D. horizontal equity
E. The administrative burden of a tax.

Sana values a pair of blue jeans at Rs400. If the price is Rs350 Sana buys the jeans and generates consumer surplus of Rs50 Suppose a tax is placed on blue jeans that causes the price of blue jeans to rise to Rs450 Now sana chooses not to buy a pair of? Read More »

Economics Mcqs, Taxation

When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold than otherwise the tax has ?

Economics Mcqs, Taxation /
When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold than otherwise the tax has ?

A. caused a deadweight loss
B. decreased equity
C. generated no tax revenue
D. increased efficiency

When a tax distorts incentives to buyers and sellers so that fewer goods are produced and sold than otherwise the tax has ? Read More »

Economics Mcqs, Taxation

Since the supply of undeveloped land is relatively inelastic a tax on undeveloped land would generate ?

Economics Mcqs, Taxation /
Since the supply of undeveloped land is relatively inelastic a tax on undeveloped land would generate ?

A. a small deadweight loss and the burden of the tax would fall on the renter
B. a large deadweight loss and the burden of the tax would fall on the landlora
C. a large deadweight loss and the burden of the tax would fall on the renter.
D. a small deadweight loss and the burden of the tax would fall on the landlord

Since the supply of undeveloped land is relatively inelastic a tax on undeveloped land would generate ? Read More »

Economics Mcqs, Taxation