经济学原理对应练习08.docx

经济学原理对应练习08.docx

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经济学原理对应练习08

Chapter8

Application:

TheCostsofTaxation

MultipleChoice

1.In1776,theAmericanRevolutionwassparkedbyangerover

a.theextravagantlifestyleofBritishroyalty.

b.thecrimesofBritishsoldiersstationedintheAmericancolonies.

c.BritishtaxesimposedontheAmericancolonies.

d.thefailureoftheBritishtoprotectAmericancolonistsfromattackbyhostileNativeAmericans.

ANS:

CPTS:

1DIF:

1REF:

8-0

TOP:

TaxesMSC:

Definitional

2.AngeroverBritishtaxesplayedasignificantroleinbringingabout

a.theelectionofJohnAdamsasthesecondAmericanpresident.

b.theAmericanRevolution.

c.theWarof1812.

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

ANS:

BPTS:

1DIF:

1REF:

8-0

TOP:

TaxesMSC:

Definitional

3.WhenRonaldReaganranforthepresidencyin1980,hepledgedtobringabout

a.largecutsinpersonalincometaxes.

b.largecutsinpayrolltaxes.

c.largeincreasesinpersonalincometaxes.

d.largeincreasesinpayrolltaxes.

ANS:

APTS:

1DIF:

1REF:

8-0

TOP:

TaxesMSC:

Definitional

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

a.LyndonB.Johnson

b.JimmyCarter

c.GeorgeH.W.Bush

d.BillClinton

ANS:

CPTS:

1DIF:

1REF:

8-0

TOP:

TaxesMSC:

Definitional

5.DuringRonaldReagan'spresidency,thetoptaxrateonincomefellfrom

a.36percentto22percent.

b.50percentto22percent.

c.50percentto28percent.

d.70percentto28percent.

ANS:

DPTS:

1DIF:

2REF:

8-0

TOP:

TaxratesMSC:

Definitional

6.Inrecentdecades,whichofthefollowingU.S.presidentspromisedtaxcutsandsubsequentlydeliveredtaxcuts?

a.JimmyCarterandRonaldReagan

b.RonaldReaganandBillClinton

c.GeraldFordandGeorgeW.Bush

d.RonaldReaganandGeorgeW.Bush

ANS:

DPTS:

1DIF:

2REF:

8-0

TOP:

TaxesMSC:

Definitional

7.Whooncesaidthattaxesarethepricewepayforacivilizedsociety?

a.Aristotle

b.GeorgeWashington

c.OliverWendellHolmes

d.RonaldReagan

ANS:

CPTS:

1DIF:

1REF:

8-0

TOP:

TaxesMSC:

Definitional

8.Tofullyunderstandhowtaxesaffecteconomicwell-being,wemust

a.assumethateconomicwell-beingisnotaffectedifalltaxrevenueisspentongoodsandservicesforthepeoplewhoarebeingtaxed.

b.knowthedollaramountofalltaxesraisedinthecountryeachyear.

c.comparethereducedwelfareofbuyersandsellerstotheamountofrevenuethegovernmentraises.

d.takeintoaccountthefactthatalmostalltaxesreducethewelfareofbuyers,increasethewelfareofsellers,andraiserevenueforthegovernment.

ANS:

CPTS:

1DIF:

2REF:

8-0

TOP:

Taxes|EconomicwelfareMSC:

Interpretive

9.OliverWendellHolmesoncesaidtaxes

a.arethepricewepayforacivilizedsociety.

b.areafactoflife.

c.cannotbeescapedunlessyouareinjail.

d.canbeavoidedonlybytherich.

ANS:

APTS:

1DIF:

1REF:

8-1

TOP:

TaxesMSC:

Definitional

10.Whenataxisleviedonagood,thebuyersandsellersofthegoodsharetheburden,

a.providedthetaxisleviedonthesellers.

b.providedthetaxisleviedonthebuyers.

c.providedaportionofthetaxisleviedonthebuyers,withtheremainingportionleviedonthesellers.

d.regardlessofhowthetaxislevied.

ANS:

DPTS:

1DIF:

2REF:

8-1

TOP:

TaxburdenMSC:

Interpretive

11.Ataxonagood

a.raisesthepricethatbuyerseffectivelypayandraisesthepricethatsellerseffectivelyreceive.

b.raisesthepricethatbuyerseffectivelypayandlowersthepricethatsellerseffectivelyreceive.

c.lowersthepricethatbuyerseffectivelypayandraisesthepricethatsellerseffectivelyreceive.

d.lowersthepricethatbuyerseffectivelypayandlowersthepricethatsellerseffectivelyreceive.

ANS:

BPTS:

1DIF:

2REF:

8-1

TOP:

Tax|PricesMSC:

Interpretive

12.Whenagoodistaxed,

a.bothbuyersandsellersofthegoodaremadeworseoff.

b.onlybuyersaremadeworseoff,becausetheyultimatelybeartheburdenofthetax.

c.onlysellersaremadeworseoff,becausethegovernmentholdsthemresponsibleforsendinginthetaxpayments.

d.neitherbuyersnorsellersaremadeworseoff,sincetaxrevenueisusedtoprovidegoodsandservicesthatwouldotherwisenotbeprovidedinamarketeconomy.

ANS:

APTS:

1DIF:

2REF:

8-1

TOP:

Taxes|EconomicwelfareMSC:

Interpretive

13.Tomeasurethegainsandlossesfromataxonagood,economistsusethetoolsof

a.macroeconomics.

b.welfareeconomics.

c.international-tradetheory.

d.circular-flowanalysis.

ANS:

BPTS:

1DIF:

1REF:

8-1

TOP:

Taxes|EconomicwelfareMSC:

Interpretive

14.Whenataxisimposedonagood,

a.thesupplycurveforthegoodalwaysshifts.

b.thedemandcurveforthegoodalwaysshifts.

c.theamountofthegoodthatbuyersarewillingtobuyateachpricealwaysremainsunchanged.

d.theequilibriumquantityofthegoodalwaysdecreases.

ANS:

DPTS:

1DIF:

2REF:

8-1

TOP:

Taxes|EquilibriumquantityMSC:

Interpretive

15.Ataxleviedonthesellersofagoodshiftsthe

a.supplycurveupward（ortotheleft）.

b.supplycurvedownward（ortotheright）.

c.demandcurveupward（ortotheright）.

d.demandcurvedownward（ortotheleft）.

ANS:

APTS:

1DIF:

2REF:

8-1

TOP:

Tax|SupplycurveMSC:

Interpretive

16.Ataxleviedonthebuyersofagoodshiftsthe

a.supplycurveupward（ortotheleft）.

b.supplycurvedownward（ortotheright）.

c.demandcurvedownward（ortotheleft）.

d.demandcurveupward（ortotheright）.

ANS:

CPTS:

1DIF:

2REF:

8-1

TOP:

Tax|DemandcurveMSC:

Interpretive

17.Whenataxisimposedonthebuyersofagood,thedemandcurveshifts

a.downwardbytheamountofthetax.

b.upwardbytheamountofthetax.

c.downwardbylessthantheamountofthetax.

d.upwardbymorethantheamountofthetax.

ANS:

APTS:

1DIF:

2REF:

8-1

TOP:

Tax|DemandcurveMSC:

Interpretive

18.Whenataxisimposedonthesellersofagood,

a.thedemandcurveshiftsdownwardbylessthantheamountofthetax.

b.thedemandcurveshiftsdownwardbytheamountofthetax.

c.thesupplycurveshiftsupwardbylessthantheamountofthetax.

d.thesupplycurveshiftsupwardbytheamountofthetax.

ANS:

DPTS:

1DIF:

2REF:

8-1

TOP:

Tax|SupplycurveMSC:

Interpretive

19.Ataxplacedonbuyersoftiresshifts

a.thedemandcurvefortiresdownward,decreasingthepricereceivedbysellersoftiresandcausingthemarketfortirestoexpand.

b.thedemandcurvefortiresdownward,decreasingthepricereceivedbysellersoftiresandcausingthemarketfortirestoshrink.

c.thesupplycurvefortiresupward,decreasingtheeffectivepricepaidbybuyersoftiresandcausingthemarketfortirestoexpand.

d.thesupplycurvefortiresupward,increasingtheeffectivepricepaidbybuyersoftiresandcausingthemarketfortirestoshrink.

ANS:

BPTS:

1DIF:

3REF:

8-1

TOP:

Tax|Demandcurve|EquilibriumquantityMSC:

Applicative

20.Buyersofaproductwillbearthelargerpartofthetaxburden,andsellerswillbearasmallerpartofthetaxburden,when

a.thetaxisplacedonthesellersoftheproduct.

b.thetaxisplacedonthebuyersoftheproduct.

c.thesupplyoftheproductismoreelasticthanthedemandfortheproduct.

d.thedemandfortheproductismoreelasticthanthesupplyoftheproduct.

ANS:

CPTS:

1DIF:

2REF:

8-1

TOP:

TaxincidenceMSC:

Applicative

21.Sellersofaproductwillbearthelargerpartofthetaxburden,andbuyerswillbearasmallerpartofthetaxburden,when

a.thetaxisplacedonthesellersoftheproduct.

b.thetaxisplacedonthebuyersoftheproduct.

c.thesupplyoftheproductismoreelasticthanthedemandfortheproduct.

d.thedemandfortheproductismoreelasticthanthesupplyoftheproduct.

ANS:

DPTS:

1DIF:

2REF:

8-1

TOP:

TaxincidenceMSC:

Applicative

22.Whenataxisimposedonagoodforwhichthesupplyisrelativelyelasticandthedemandisrelativelyinelastic,

a.buyersofthegoodwillbearmostoftheburdenofthetax.

b.sellersofthegoodwillbearmostoftheburdenofthetax.

c.theeffectivepricepaidbybuyersofthegoodwilldecrease.

d.thesizeofthemarketforthegoodwillexpand.

ANS:

APTS:

1DIF:

2REF:

8-1

TOP:

TaxincidenceMSC:

Applicative

23.Supposeataxisimposedonthebuyersoffast-foodhamburgers.Theburdenofthetaxwill

a.fallentirelyonthebuyersoffast-foodhamburgers.

b.fallentirelyonthesellersoffast-foodhamburgers.

c.besharedequallybythebuyersandsellersoffast-foodhamburgers.

d.besharedbythebuyersandsellersoffast-foodhamburgers,butnotnecessarilyequally.

ANS:

DPTS:

1DIF:

2REF:

8-1

TOP:

TaxincidenceMSC:

Interpretive

24.Itdoesnotmatterwhetherataxisleviedonthebuyersorthesellersofagoodbecause

a.sellersalwaysbearthefullburdenofthetax.

b.buyersalwaysbearthefullburdenofthetax.

c.buyersandsellerswillsharetheburdenofthetax.

d.Noneoftheaboveiscorrect;theincidenceofthetaxdoesdependonwhetherthebuyersorthesellersarerequiredtopaythetax.

ANS:

CPTS:

1DIF:

2REF:

8-1

TOP:

TaxincidenceMSC:

Interpretive

25.Whenataxisimposedonagoodforwhichdemandiselasticandsupplyiselastic,

a.sellerseffectivelypaythemajorityofthetax.

b.buyerseffectivelypaythemajorityofthetax.

c.thetaxburdenisequallydividedbetweenbuyersandsellers.

d.Noneoftheaboveiscorrect;furtherinformationwouldberequiredtodeterminehowtheburdenofthetaxisdistributedbetweenbuyersandsellers.

ANS:

DPTS:

1DIF:

2REF:

8-1

TOP:

TaxincidenceMSC:

Interpretive

26.Whencigarettesaretaxedandsellersofcigarettesarerequiredto