Exam (elaborations)

Test Bank for Microeconomics, 4th Canadian Edition by Hubbard - 2025 Published (All Chapters included)

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Complete Test Bank for Microeconomics, 4th Canadian Edition by R. Glenn Hubbard, Anthony Patrick O'Brien, Apostolos Serletis, Jason Childs ; ISBN13: 9780137688067...(Full Chapters included and organized in reverse order from Chapter 15 to 1)...1.Economics: Foundations and Models 2.Trade-offs, Comp...

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TEST BANK

Microeconomics, 4th Canadian
Edition by R. Glenn Hubbard

Complete Chapter Test Bank
are included (Ch 1 to 15)

** Immediate Download
** Swift Response
** All Chapters included

,Table of Contents are given below

1.Economics: Foundations and Models
2.Trade-offs, Comparative Advantage, and the Market System

3.Where Prices Come From: The Interaction of Supply and Demand
4.Economic Efficiency, Government Price Setting, and Taxes

5.Externalities, Environmental Policy, and Public Goods

6.Elasticity: The Responsiveness of Demand and Supply

7.Comparative Advantage and the Gains from International Trade
8.Consumer Choice and Behavioural Economics

9.Technology, Production, and Costs

10.Firms in Perfectly Competitive Markets

11.Monopolistic Competition: The Competitive Model in a More Realistic

Setting
12.Oligopoly: Firms in Less Competitive Markets

13.Monopoly and Competition Policy

14.The Markets for Labour and Other Factors of Production Public Choice,
Taxes, and the Distribution of Income
15.Public Choice, Taxes, and the Distribution of Income

,The test bank is organized in reverse order, with the last chapter displayed first, to ensure that all
chapters are included in this document. (Complete Chapters included Ch15-1)

Microeconomics, 4Ce (Hubbard)
Chapter 15 Public Choice, Taxes, and the Distribution of Income

15.1 Describe the public choice model and explain how it is used to analyze government
decision making

1) One argument advanced in favour of reducing corporate income tax rates is
A) corporations increase the wealth of shareholders, which contributes to increases in GDP.
B) reducing corporate income tax will lead to a higher capital stock and a higher standard of living.
C) corporate dividends accrue mostly to middle-income and low-income investors who are already
paying heavy income taxes.
D) corporate income tax is illegal.
E) that reduced corporate tax rate increases the profits of big businesses.
Answer: B
Diff: 2 Type: MC
Topic: Income Taxes
Learning Outcome: 15.1 Describe the public choice model and explain how it is used to analyze
government decision making
AACSB: Reflective Thinking
Special Feature: Chapter Opener: Taxes and Trade-Offs

2) One argument advanced in favour of raising corporate income taxes is
A) dividends increase the wealth of shareholders, which could lead to inflation.
B) the tax revenue gained can be used to pay for social programs.
C) corporate dividends accrue mostly to low income individuals, thus increasing income inequality.
D) it increases the incentive for corporations to maximize shareholder value.
E) it increases the income inequality among the rich and the poor.
Answer: B
Diff: 2 Type: MC
Topic: Income Taxes
Learning Outcome: 15.1 Describe the public choice model and explain how it is used to analyze
government decision making
AACSB: Reflective Thinking
Special Feature: Chapter Opener: Taxes and Trade-Offs

3) One way physicians might react to an increase in the federal income tax rate would be
A) they would see more patients.
B) the would take more time off.
C) they would pay more provincial income tax.
D) they would increase the wage they offer their support staff.
E) they will work longer hours and will work on weekends too.
Answer: B
Diff: 1 Type: MC
Topic: Income Taxes
Learning Outcome: 15.1 Describe the public choice model and explain how it is used to analyze
government decision making
AACSB: Reflective Thinking
Special Feature: Chapter Opener: Taxes and Trade-Offs

1

, 4) Tax laws affect
A) economic efficiency but not equity.
B) equity but not economic efficiency.
C) consumption and production, not efficiency and equity.
D) both efficiency and equity.
E) the way people do businesses.
Answer: D
Diff: 1 Type: MC
Topic: Income Taxes
Learning Outcome: 15.1 Describe the public choice model and explain how it is used to analyze
government decision making
AACSB: Reflective Thinking
Special Feature: Chapter Opener: Taxes and Trade-Offs

5) What are the two types of taxes that working individuals pay on their earnings?
A) individual income tax and sales tax
B) payroll tax and sales tax
C) individual income tax and social insurance premiums
D) property tax and payroll tax
E) GST and HST
Answer: C
Diff: 1 Type: MC
Topic: Income Taxes
Learning Outcome: 15.1 Describe the public choice model and explain how it is used to analyze
government decision making
AACSB: Reflective Thinking
Special Feature: Economics in Your Life: How Much Tax Should You Pay?

6) According to public choice theory, policymakers
A) place the interests of the public above their own self-interest.
B) are likely to pursue their own self-interest, even if their self-interest conflicts with the public interest.
C) act in ways to maximize economic efficiency.
D) act in ways to bring about an equitable distribution of society's wealth.
E) care more about public interests than their own interests.
Answer: B
Diff: 1 Type: MC
Topic: Public Choice
Learning Outcome: 15.1 Describe the public choice model and explain how it is used to analyze
government decision making
AACSB: Reflective Thinking

2

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Exam (elaborations)

Test Bank for Microeconomics, 4th Canadian Edition by Hubbard - 2025 Published (All Chapters included)

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