ECO 450 Week 9 Quiz
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Question 1
A tax on interest income:
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Question 2
Which of the following is true about comprehensive income?
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Question 3
If the market supply curve of savings is upward sloping, a tax on interest income will:
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Question 4
2 out of 2 points
Most empirical research indicates that the market supply curve of labor hours by prime-age males is:
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Question 5
2 out of 2 points
The Haig-Simons definition of income:
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Question 6
Using a regular labor supply curve instead of a compensated supply curve to calculate the excess burden of a tax on labor income will:
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Question 7
If the return to savings, r, is subject to taxation at rate t, then in equilibrium a saver’s marginal rate of time preference will equal:
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Question 8
The compensated labor supply curve:
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Question 9
A flat-rate tax on labor income will:
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Question 10
Comprehensive income:
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Question 11
2 out of 2 points
Income from labor services (wages) account for what percentage of gross income in the U.S.?
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Question 12
2 out of 2 points
Comprehensive income:
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Question 13
2 out of 2 points
If the supply of labor is perfectly inelastic, then the incidence of a payroll tax levied entirely on employers will be:
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Question 14
The higher the compensated elasticity of supply of savings,
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Question 15
Which of the following will increase a person’s comprehensive income?
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Question 16
A taxpayer is in a 33-percent tax bracket and itemizes deductions. He obtains a mortgage from a bank at 9-percent interest. The actual rate of interest he pays is:
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Question 17
2 out of 2 points
Tax preferences:
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Question 18
If the excess burden from tax is $10 million, lowering marginal tax rates should make the excess burden:
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Question 19
Tax expenditures are:...