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ECO 450 Week 9 Quiz
Question 1
A tax on interest income:
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Question 2
Which of the following is true about comprehensive income?
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Question 3
If the market supply curve of savings is upward sloping, a tax on interest income will:
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Question 4
2 out of 2 points
Most empirical research indicates that the market supply curve of labor hours by prime-age males is:
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Question 5
2 out of 2 points
The Haig-Simons definition of income:
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Question 6
Using a regular labor supply curve instead of a compensated supply curve to calculate the excess burden of a tax on labor income will:
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Question 7
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:
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Question 8
The compensated labor supply curve:
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Question 9
A flat-rate tax on labor income will:
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Question 10
Comprehensive income:
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Question 11
2 out of 2 points
Income from labor services (wages) account for what percentage of gross income in the U.S.?
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Question 12
2 out of 2 points
Comprehensive income:
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Question 13
2 out of 2 points
If the supply of labor is perfectly inelastic, then the incidence of a payroll tax levied entirely on employers will be:
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Question 14
The higher the compensated elasticity of supply of savings,
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Question 15
Which of the following will increase a person’s comprehensive income?
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Question 16
A taxpayer is in a 33-percent tax bracket and itemizes deductions. He obtains a mortgage from a bank at 9-percent interest. The actual rate of interest he pays is:
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Question 17
2 out of 2 points
Tax preferences:
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Question 18
If the excess burden from tax is $10 million, lowering marginal tax rates should make the excess burden:
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Question 19
Tax expenditures are:
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Question 20
2 out of 2 points
Adjusted gross income, as defined by the United States Tax Code,
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Question 21
2 out of 2 points
“Bracket creep” is no longer a problem in the United States because:
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Question 22
2 out of 2 points
The excess burden of tax preferences:
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Question 23
Which of the following is true for the federal income tax in the United States?
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Question 24
Removing savings from the tax base of the personal income tax is likely to:
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Question 25
Because of the Earned Income Tax Credit, the effective tax rate for the lowest-income taxpayers in the United States is:
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Question 26
Currently, the tax treatment of capital gains in the United States is such that:
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Question 27
The reduction in marginal tax rates will:
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Question 28
2 out of 2 points
As of 2009, the highest marginal tax rate is:
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Question 29
The exclusion of interest of state and local bonds from taxation by the federal government:
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Question 30
Under the federal personal income tax rules prevailing as of 2009,
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