100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Econ 202 - Study Guide Chapter 8 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution CA$11.16   Add to cart
Quickly navigate to
Preview
  2.  
  3. All Summer Modules Studies 2024
  4.  
  5. All Summer Modules Studies 2024
  6.  
  7. All summer modules studies 2024

Exam (elaborations)

Econ 202 - Study Guide Chapter 8 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

1 review
 5 views  0 purchase
  • Course
  • All summer modules studies 2024
  • Institution
  • All Summer Modules Studies 2024

Econ 202 - Study Guide Chapter 8 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

Preview 2 out of 6  pages

Document information

  • June 19, 2024
  • 6
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • econ 202 study guide chapter 8 questions with 10

Written for

  • All summer modules studies 2024
  • all summer modules studies 2024
  • All summer modules studies 2024
All documents for this subject (274)

1  review

review-writer-avatar

By: EXAMQA • 2 months ago

Seller

avatar-seller
Hkane

Reviews received

Content preview

Econ 202 - Study Guide Chapter 8
The reduction in total surplus that results from a tax
Deadweight Loss


A graph showing the relationship between the size of a tax and the tax
revenue collected
Laffer Curve


The difference between what the buyer pays and the seller receives when a
tax is place in a market
Tax Wedge


True or False: In general, a tax raises the price buyers pay, lowers the price
the sellers receive, and reduces the quantity sold
True


True or False: If a tax is place on a good and it reduces the quantity sold,
there me be a deadweight loss from the tax
True


True or False: Deadweight loss in the reduction in consumer surplus that
results from a tax
False


True or False: When a tax is place on a good, the revenue the govt. collects is
exactly equal to the loss of consumer and producer surplus from the tax
False


True or False: If John values having his hair cut at $20 and Mary's cost of
providing the haircut is $10, any tax on haircuts larger than $10 will eliminate
the gains from trade and cause a $20 loss of total surplus.

, False


True or False: If a tax is place on a good in a market where supply is perfectly
inelastic, there is no deadweight loss and the sellers bear the entire burden of
the tax
True


True or False: A tax on cigarettes would likely generate a larger deadweight
loss than a tax on luxury boats
False


True or False: A tax will generate a greater deadweight loss if supply and
demand are both inelastic
False


True or False: A tax causes a deadweight loss because it eliminates some of
the potential gains from trade
True


True or False: A larger tax always generated more tax revenue
False


True or False: A larger tax always generates a larger deadweight loss
True


True or False: If an income tax rate is high enough, a reduction in the tax rate
could increase tax revenue
True


True or False: A tax collected from buyers generated a smaller deadweight
loss than a tax collected from sellers
False

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Hkane. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$11.16. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73243 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$11.16
  • (1)
  Add to cart