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Eco 450 Week 8 Quiz Essay

3705 words - 15 pages

ECO 450 Week 8 Quiz

Product Description

Question 1
Housing construction is generally believed to be an industry of constant costs. In the long run, which of the following is true if a $10 per square foot tax on housing construction is collected directly
from builders?
Question 2
Which of the following is true about a lump-sum tax?
Question 3
The demand for medical care is very inelastic. If a 10-percent tax is levied on the sale of medical services and is collected from medical-care providers, then:
Question 4
2 out of 2 points
Currently, a 10-cent per gallon tax is levied on gasoline consumption. The tax is increased to 20 cents per gallon. The excess burden of the tax ...view middle of the document...

This implies that the:
Answer
Question 15
Viewed from origin a price distorting tax creates a new budget line with a ______ slope relative to the budget line without the tax.
Answer
Question 16
2 out of 2 points
Which of the following can contribute to a decrease in national saving?
Answer
Question 17
The total dollar value of the federal debt outstanding is:
Answer
Question 18
A government’s internal debt is:
Answer
Question 19
Other things being equal, a government budget surplus:
Answer
Question 20
The largest portion of the net federal debt outstanding is owed to:
Answer
Question 21
2 out of 2 points
Which of the following is true about the federal government budget balance in the United States?
Answer
Question 22
The federal budget has been in deficit:
Answer
Question 23
As a result of government borrowing to cover deficits, citizens increase the supply of savings to provide themselves with funds to pay anticipated increases in future taxes. Then it follows that increased government borrowing will:
Answer
Question 24
The high employment deficit is estimated at $100 billion. Assuming that the economy is operating below full employment and that it will not overheat during the year,
Answer
Question 25
High-employment deficit or surplus is:
Answer
Question 26
The National Income and Product Accounts budget balance reflects:
Answer
Question 27
0 out of 2 points
A bond that is backed by the tolls collected from a bridge to be constructed from the proceeds of the bond is an example of:
Answer
Question 28
2 out of 2 points
The debt of state and local governments is mostly:
Answer
Question 29
2 out of 2 points
Evidence of “crowding out” in the market for loanable funds at a rate of 8% could be:
Answer
Question 30
2 out of 2 points
The federal government, its agencies, and the Federal Reserve System:
Answer

ECO 450 Week 8 Quiz

Product Description

Question 1
Housing construction is generally believed to be an industry of constant costs. In the long run, which of the following is true if a $10 per square foot tax on housing construction is collected directly
from builders?
Question 2
Which of the following is true about a lump-sum tax?
Question 3
The demand for medical care is very inelastic. If a 10-percent tax is levied on the sale of medical services and is collected from medical-care providers, then:
Question 4
2 out of 2 points
Currently, a 10-cent per gallon tax is levied on gasoline consumption. The tax is increased to 20 cents per gallon. The excess burden of the tax will:
Answer
Question 5
Suppose an economy is comprised of only two markets: one for food and the other for housing. A tax on food used to finance transfer payments is likely to:
Answer
Question 6
A $0.30 per unit tax is imposed on a good that reduces the quantity supplied and demanded by 1000 units. What is the deadweight loss (ignore price elasticities)?
Answer
Question 7
The...

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