Multiple Choice
In practice,
A) taxes are not lump sum taxes.
B) real wages affect the level of lump sum taxes.
C) the quantity of profits that the consumer received is dictated by lump sum taxes.
D) lump sum taxes affect the effective prices that consumers face in the market.
E) taxes have no distortionary effect.
Correct Answer:

Verified
Correct Answer:
Verified
Q52: Perfect complements will have<br>A) straight line indifference
Q53: Constant returns to scale means that,given any
Q54: With consumption on the vertical axis and
Q55: The following question(s) deal with the Widget
Q56: We assume that the representative consumer's preferences
Q58: "More is always preferred to less" refers
Q59: What are income and substitution effects? What
Q60: In the production function,Y = zF(K,Nd),total factor
Q61: In a one-period economy,the expression for the
Q62: The representative consumer acts competitively<br>A) when he