经济学原理对应练习08.doc

经济学原理对应练习08.doc

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Chapter8/Application:

TheCostsofTaxationv343

Chapter8

Application:

TheCostsofTaxation

MultipleChoice

1. In1776,theAmericanRevolutionwassparkedbyangerover

a. theextravagantlifestyleofBritishroyalty.

b. thecrimesofBritishsoldiersstationedintheAmericancolonies.

c. BritishtaxesimposedontheAmericancolonies.

d. thefailureoftheBritishtoprotectAmericancolonistsfromattackbyhostileNativeAmericans.

ANS:

C PTS:

1 DIF:

1 REF:

8-0

TOP:

Taxes MSC:

Definitional

2. AngeroverBritishtaxesplayedasignificantroleinbringingabout

a. theelectionofJohnAdamsasthesecondAmericanpresident.

b. theAmericanRevolution.

c. theWarof1812.

d. the“nonewtaxes”clauseintheU.S.Constitution.

ANS:

B PTS:

1 DIF:

1 REF:

8-0

TOP:

Taxes MSC:

Definitional

3. WhenRonaldReaganranforthepresidencyin1980,hepledgedtobringabout

a. largecutsinpersonalincometaxes.

b. largecutsinpayrolltaxes.

c. largeincreasesinpersonalincometaxes.

d. largeincreasesinpayrolltaxes.

ANS:

A PTS:

1 DIF:

1 REF:

8-0

TOP:

Taxes MSC:

Definitional

4. WhichU.S.presidentlosthisbidforre-election,inpartbecausehehadbrokenanearliercampaignpromisetorefrainfromimposinganynewtaxes?

a. LyndonB.Johnson

b. JimmyCarter

c. GeorgeH.W.Bush

d. BillClinton

ANS:

C PTS:

1 DIF:

1 REF:

8-0

TOP:

Taxes MSC:

Definitional

5. DuringRonaldReagan'spresidency,thetoptaxrateonincomefellfrom

a. 36percentto22percent.

b. 50percentto22percent.

c. 50percentto28percent.

d. 70percentto28percent.

ANS:

D PTS:

1 DIF:

2 REF:

8-0

TOP:

Taxrates MSC:

Definitional

6. Inrecentdecades,whichofthefollowingU.S.presidentspromisedtaxcutsandsubsequentlydeliveredtaxcuts?

a. JimmyCarterandRonaldReagan

b. RonaldReaganandBillClinton

c. GeraldFordandGeorgeW.Bush

d. RonaldReaganandGeorgeW.Bush

ANS:

D PTS:

1 DIF:

2 REF:

8-0

TOP:

Taxes MSC:

Definitional

7. Whooncesaidthattaxesarethepricewepayforacivilizedsociety?

a. Aristotle

b. GeorgeWashington

c. OliverWendellHolmes

d. RonaldReagan

ANS:

C PTS:

1 DIF:

1 REF:

8-0

TOP:

Taxes MSC:

Definitional

8. Tofullyunderstandhowtaxesaffecteconomicwell-being,wemust

a. assumethateconomicwell-beingisnotaffectedifalltaxrevenueisspentongoodsandservicesforthepeoplewhoarebeingtaxed.

b. knowthedollaramountofalltaxesraisedinthecountryeachyear.

c. comparethereducedwelfareofbuyersandsellerstotheamountofrevenuethegovernmentraises.

d. takeintoaccountthefactthatalmostalltaxesreducethewelfareofbuyers,increasethewelfareofsellers,andraiserevenueforthegovernment.

ANS:

C PTS:

1 DIF:

2 REF:

8-0

TOP:

Taxes|Economicwelfare MSC:

Interpretive

9. OliverWendellHolmesoncesaidtaxes

a. arethepricewepayforacivilizedsociety.

b. areafactoflife.

c. cannotbeescapedunlessyouareinjail.

d. canbeavoidedonlybytherich.

ANS:

A PTS:

1 DIF:

1 REF:

8-1

TOP:

Taxes MSC:

Definitional

10. Whenataxisleviedonagood,thebuyersandsellersofthegoodsharetheburden,

a. providedthetaxisleviedonthesellers.

b. providedthetaxisleviedonthebuyers.

c. providedaportionofthetaxisleviedonthebuyers,withtheremainingportionleviedonthesellers.

d. regardlessofhowthetaxislevied.

ANS:

D PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxburden MSC:

Interpretive

11. Ataxonagood

a. raisesthepricethatbuyerseffectivelypayandraisesthepricethatsellerseffectivelyreceive.

b. raisesthepricethatbuyerseffectivelypayandlowersthepricethatsellerseffectivelyreceive.

c. lowersthepricethatbuyerseffectivelypayandraisesthepricethatsellerseffectivelyreceive.

d. lowersthepricethatbuyerseffectivelypayandlowersthepricethatsellerseffectivelyreceive.

ANS:

B PTS:

1 DIF:

2 REF:

8-1

TOP:

Tax|Prices MSC:

Interpretive

12. Whenagoodistaxed,

a. bothbuyersandsellersofthegoodaremadeworseoff.

b. onlybuyersaremadeworseoff,becausetheyultimatelybeartheburdenofthetax.

c. onlysellersaremadeworseoff,becausethegovernmentholdsthemresponsibleforsendinginthetaxpayments.

d. neitherbuyersnorsellersaremadeworseoff,sincetaxrevenueisusedtoprovidegoodsandservicesthatwouldotherwisenotbeprovidedinamarketeconomy.

ANS:

A PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxes|Economicwelfare MSC:

Interpretive

13. Tomeasurethegainsandlossesfromataxonagood,economistsusethetoolsof

a. macroeconomics.

b. welfareeconomics.

c. international-tradetheory.

d. circular-flowanalysis.

ANS:

B PTS:

1 DIF:

1 REF:

8-1

TOP:

Taxes|Economicwelfare MSC:

Interpretive

14. Whenataxisimposedonagood,

a. thesupplycurveforthegoodalwaysshifts.

b. thedemandcurveforthegoodalwaysshifts.

c. theamountofthegoodthatbuyersarewillingtobuyateachpricealwaysremainsunchanged.

d. theequilibriumquantityofthegoodalwaysdecreases.

ANS:

D PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxes|Equilibriumquantity MSC:

Interpretive

15. Ataxleviedonthesellersofagoodshiftsthe

a. supplycurveupward（ortotheleft）.

b. supplycurvedownward（ortotheright）.

c. demandcurveupward（ortotheright）.

d. demandcurvedownward（ortotheleft）.

ANS:

A PTS:

1 DIF:

2 REF:

8-1

TOP:

Tax|Supplycurve MSC:

Interpretive

16. Ataxleviedonthebuyersofagoodshiftsthe

a. supplycurveupward（ortotheleft）.

b. supplycurvedownward（ortotheright）.

c. demandcurvedownward（ortotheleft）.

d. demandcurveupward（ortotheright）.

ANS:

C PTS:

1 DIF:

2 REF:

8-1

TOP:

Tax|Demandcurve MSC:

Interpretive

17. Whenataxisimposedonthebuyersofagood,thedemandcurveshifts

a. downwardbytheamountofthetax.

b. upwardbytheamountofthetax.

c. downwardbylessthantheamountofthetax.

d. upwardbymorethantheamountofthetax.

ANS:

A PTS:

1 DIF:

2 REF:

8-1

TOP:

Tax|Demandcurve MSC:

Interpretive

18. Whenataxisimposedonthesellersofagood,

a. thedemandcurveshiftsdownwardbylessthantheamountofthetax.

b. thedemandcurveshiftsdownwardbytheamountofthetax.

c. thesupplycurveshiftsupwardbylessthantheamountofthetax.

d. thesupplycurveshiftsupwardbytheamountofthetax.

ANS:

D PTS:

1 DIF:

2 REF:

8-1

TOP:

Tax|Supplycurve MSC:

Interpretive

19. Ataxplacedonbuyersoftiresshifts

a. thedemandcurvefortiresdownward,decreasingthepricereceivedbysellersoftiresandcausingthemarketfortirestoexpand.

b. thedemandcurvefortiresdownward,decreasingthepricereceivedbysellersoftiresandcausingthemarketfortirestoshrink.

c. thesupplycurvefortiresupward,decreasingtheeffectivepricepaidbybuyersoftiresandcausingthemarketfortirestoexpand.

d. thesupplycurvefortiresupward,increasingtheeffectivepricepaidbybuyersoftiresandcausingthemarketfortirestoshrink.

ANS:

B PTS:

1 DIF:

3 REF:

8-1

TOP:

Tax|Demandcurve|Equilibriumquantity MSC:

Applicative

20. Buyersofaproductwillbearthelargerpartofthetaxburden,andsellerswillbearasmallerpartofthetaxburden,when

a. thetaxisplacedonthesellersoftheproduct.

b. thetaxisplacedonthebuyersoftheproduct.

c. thesupplyoftheproductismoreelasticthanthedemandfortheproduct.

d. thedemandfortheproductismoreelasticthanthesupplyoftheproduct.

ANS:

C PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxincidence MSC:

Applicative

21. Sellersofaproductwillbearthelargerpartofthetaxburden,andbuyerswillbearasmallerpartofthetaxburden,when

a. thetaxisplacedonthesellersoftheproduct.

b. thetaxisplacedonthebuyersoftheproduct.

c. thesupplyoftheproductismoreelasticthanthedemandfortheproduct.

d. thedemandfortheproductismoreelasticthanthesupplyoftheproduct.

ANS:

D PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxincidence MSC:

Applicative

22. Whenataxisimposedonagoodforwhichthesupplyisrelativelyelasticandthedemandisrelativelyinelastic,

a. buyersofthegoodwillbearmostoftheburdenofthetax.

b. sellersofthegoodwillbearmostoftheburdenofthetax.

c. theeffectivepricepaidbybuyersofthegoodwilldecrease.

d. thesizeofthemarketforthegoodwillexpand.

ANS:

A PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxincidence MSC:

Applicative

23. Supposeataxisimposedonthebuyersoffast-foodhamburgers.Theburdenofthetaxwill

a. fallentirelyonthebuyersoffast-foodhamburgers.

b. fallentirelyonthesellersoffast-foodhamburgers.

c. besharedequallybythebuyersandsellersoffast-foodhamburgers.

d. besharedbythebuyersandsellersoffast-foodhamburgers,butnotnecessarilyequally.

ANS:

D PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxincidence MSC:

Interpretive

24. Itdoesnotmatterwhetherataxisleviedonthebuyersorthesellersofagoodbecause

a. sellersalwaysbearthefullburdenofthetax.

b. buyersalwaysbearthefullburdenofthetax.

c. buyersandsellerswillsharetheburdenofthetax.

d. Noneoftheaboveiscorrect;theincidenceofthetaxdoesdependonwhetherthebuyersorthesellersarerequiredtopaythetax.

ANS:

C PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxincidence MSC:

Interpretive

25. Whenataxisimposedonagoodforwhichdemandiselasticandsupplyiselastic,

a. sellerseffectivelypaythemajorityofthetax.

b. buyerseffectivelypaythemajorityofthetax.

c. thetaxburdenisequallydividedbetweenbuyersandsellers.

d. Noneoftheaboveiscorrect;furtherinformationwouldberequiredtodeterminehowtheburdenofthetaxisdistributedbetweenbuyersandsellers.

ANS:

D PTS:

1 DIF:

2 REF:

8-1

TOP:

Taxincidence MSC:

Interpretive

26. Whencigarettesaretaxedands