Which of the following statements about private and social costs associated with a negative externality is TRUE?
A) Social costs include externalities.
B) Private cost do not include externalities.
C) Social costs are never smaller than private costs.
D) All of the above.
D
Economics
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A tax that imposes a small excess burden relative to the tax revenue that it raises is
A) an efficient tax. B) a payroll tax. C) a sin tax. D) a FICA tax.
Economics
An increase in taxes will cause the consumption schedule to
a. shift upward. b. shift downward. c. remain fixed as the economy moves upward along the schedule. d. remain fixed as the economy moves downward along the schedule.
Economics