Eco 450 Week 11 Final Exam Part 2

ECO 450 Week 11 Final Exam Part 2

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Question 1

Most empirical research indicates that the market supply curve of labor hours by prime-age males is:

Answer

Question 2

The higher the compensated elasticity of supply of savings,

Answer

Question 3

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:

Answer

Question 4

The Haig-Simons definition of income:

Answer

Question 5

Comprehensive income:

Answer

Question 6

Which of the following is the result of The Economic Growth and Tax Relief Reconciliation Act enacted in 2001?

Answer

Question 7

The reduction in marginal tax rates will:

Answer

Question 8

Which of the following is true for the federal income tax in the United States?

Answer

Question 9

The excess burden of tax preferences:

Answer

Question 10

Tax expenditures are:

Answer

Question 11

Accelerated depreciation allows corporations to:

Answer

Question 12

In the long run a corporate income tax that initially reduces the return to investment in the corpo¬rate sector will also:

Answer

Question 13

If corporations maximize profits, the short-run incidence of a tax on its profits will be borne by:

Answer

Question 14

If an all-equity firm has after-tax income of $100,000 based on a 34% income tax, what is the after-tax income of an equivalent firm that pays $15,000 in interest that is tax deductible?

Answer

Question 15

If the supply of savings is not perfectly elastic, the corporate income tax is likely to:

Answer

Question 16

Assuming that a person never receives any cash gifts or bequests, a tax on comprehensive con¬sumption is equivalent to a(n):

Answer

Question 17

In most states, the retail sales tax can be regarded as equivalent to a:

Answer

Question 18

Consumption-in-kind:

Answer

Question 19

A consumption-type,...