Week reflection

Econquiz11.22.docx

Home >Government homework help >Week reflection

QUESTION 1

1. One important difference between the political process and the market process is that

		the political process results in collective actions that maximize economic surplus, while the market process may lead to efficiency losses.
		the political process results in collective actions in which not everyone is required to participate, while in the market process individuals are obliged to participate.
		the political process results in collective actions in which everyone is made better off, while the market process results in actions that favor some groups only.
		the political process results in collective actions in which everyone is obliged to participate, while in the market process individuals are free to participate or not.

2 points

QUESTION 2

1. What is regulatory capture?

		It is a situation in which a policymaker seeks to improve his election prospects by aligning himself with a powerful special interest group which will finance his political campaign.
		It is the exchange of political support between a regulatory agency and the regulated firm resulting in both parties capturing economic rents.
		It is a situation in which a firm being regulated successfully influences the regulatory agency's actions to benefit the interests of the firm, rather than the public interest.
		It is a situation in which a regulatory agency uses its authority to force actions that are not favored by the regulated firms but are in the public's interest.

2 points

QUESTION 3

1. If, as your taxable income decreases, you pay a smaller percentage of your taxable income in taxes, then the tax is

		unfair.
		regressive.
		proportional.
		progressive.

2 points

QUESTION 4

1. If you pay a constant percentage of your taxable income in taxes, the tax is

		random.
		progressive.
		regressive.
		proportional.

2 points

QUESTION 5

1. According to the study by Saez and Zucman, the average tax rate by income group (composed of all categories of US taxes) is roughly:

		regressive.
		random.
		progressive.
		proportional.

2 points

QUESTION 6

1. According to the study by Saez and Zucman, the average annual income of an adult in the bottom 50 percent of the US workforce (the working class) for 2018 is:

		$18,500
		$30,000
		$50,000
		$65,000

2 points

QUESTION 7

1. Exemptions and deductions are used

		to determine the type of tax structure.
		by taxpayers to reduce the amount of income subject to tax.
		to add to taxes that must be paid.
		to determine what items are subject to sales taxes.

2 points

QUESTION 8

1. According to the study by Saez and Zucman, the percentage of national income in the US that is subject to individual income tax in 2018 (given legal exemptions in the tax code) is:

		90%
		63%
		all income is subject to taxation in the US tax code.
		82%

2 points

QUESTION 9

1. An average tax rate is calculated as

		taxes paid ÷ total taxable income.
		(total taxable income - taxes paid) ÷ taxable income.
		total taxable income ÷ taxes paid.
		total taxable income × taxes paid.

2 points

QUESTION 10

1. The "ability-to-pay" principle of taxation is the normative idea that

		progressive taxes are not more equitable than regressive taxes.
		an equitable tax system is one in which high income individuals should bear a greater burden of taxes than low income individuals.
		two individuals earning the same income should have equal ability to pay, all else constant.
		each individual should voluntarily contribute according to her ability to pay taxes.

2 points

QUESTION 11

1. Stacy Abrams was a founder of the "Black Lives Matter" movement according to the documentary Not Done: Women Re-making America.

2.		True
		False

2 points

QUESTION 12

1. The "Time's Up" movement is primarily about stopping sexual harassment at the workplace as shown in the documentary Not Done: Women Re-making America.

2.		True
		False

2 points

QUESTION 13

1. The idea that individuals should be taxed in proportion to the marginal benefits that they receive from public goods is called

		the ability-to-pay principle.
		the horizontal-equity principle.
		the benefits-received principle.
		the vertical-equity principle.

2 points

QUESTION 14

1. The sales tax

		is not consistent with the benefits-received principle because low-income individuals spend less on goods and services than do high-income individuals, yet pay the same sales tax rate.
		is consistent with the benefits-received principle because low-income individuals spend less on goods and services than do high-income people.
		is not consistent with the ability-to-pay principle because low-income individuals tend to spend a larger fraction of their income than do high-income individuals.
		is not consistent with the ability-to-pay principle because low-income individuals tend to purchase a smaller bundle of goods and services compared to high-income individuals.

2 points

QUESTION 15

1. According to Lawrence Lessig the "first problem" is

		politicians in the US Congress are dependent on a small number of influential campaign funders
		the need to institute a nation-wide value added tax like other nations
		the size of the national debt
		climate change as an existential threat.

2 points

QUESTION 16

1. According to Marc Benioff, corporate managers should promote gender equity which includes all the following elements except

		Stopping sexual harassment
		Equal pay
		Corporate pay bonuses for higher performing women
		Equal advancement

2 points

QUESTION 17

1. Professor Robert Reich explains the cap on social security payroll taxes means this payroll tax is:

		progressive.
		proportional.
		random.
		regressive.

2 points

QUESTION 18

1. As discussed in the Quiz review video, the vision for a "new stakeholder capitalism" as expressed by Marc Benioff finds an expression in the move by the California legislature that recently passed which law?

		the law that requires that women have greater representation on the Board of Directors of all large corporations based in California.
		the law that prohibits discrimination against job applicants with prior convictions
		the law that makes gig workers self-employed contractors
		the law that prohibits bars staying open past midnight

2 points

QUESTION 19

1. When Congress passed a law that imposed a tax designed to fund its Social Security and Medicare programs it wanted employers and workers to share the burden of the tax equally. Most economists who have studied the incidence of the tax have concluded

		the tax is not high enough to cover the future costs of Social Security and Medicare.
		the burden of the tax falls almost entirely on workers.
		the tax rate should be greater for high-income workers than for low-income workers.
		the tax on employers is too high because it reduces the employment of low-skilled workers.

2 points

QUESTION 20

图片包含形状描述已自动生成 The graph above depicts the imposition of an excise tax of $1.00 per pack in the market for cigarettes.

The total tax revenue collected by the government is:

		$2200
		$2,000
		$220
		$8000

5 points

QUESTION 21 图形用户界面, 应用程序描述已自动生成 The graph above depicts the imposition of an excise tax of $1.00 per pack in the market for cigarettes. Of the total tax revenue collected by the government, the portion borne by the consumer is:

		$400
		$200
		$1,600
		$2000

5 points

QUESTION 22

图片包含文本描述已自动生成 The graph above depicts the imposition of an excise tax of $1.00 per pack in the market for cigarettes. The excess burden of the tax measures the efficiency loss in transactions (deadweight loss) due to the tax. The excess burden of the $1 per pack tax above is:

		$100
		$2000
		$50
		$200