ECO 450 Week 11 Final Exam Part 2

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Question 1
Most empirical research indicates that the market supply curve of labor hours by prime-age males is:
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Question 2
The higher the compensated elasticity of supply of savings,
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Question 3
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 4
The Haig-Simons definition of income:
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Question 5
Comprehensive income:
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Question 6
Which of the following is the result of The Economic Growth and Tax Relief Reconciliation Act enacted in 2001?
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Question 7
The reduction in marginal tax rates will:
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Question 8
Which of the following is true for the federal income tax in the United States?
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Question 9
The excess burden of tax preferences:
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Question 10
Tax expenditures are:
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Question 11
Accelerated depreciation allows corporations to:
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Question 12
In the long run a corporate income tax that initially reduces the return to investment in the corpo¬rate sector will also:
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Question 13
If corporations maximize profits, the short-run incidence of a tax on its profits will be borne by:
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Question 14
If an all-equity firm has after-tax income of $100,000 based on a 34% income tax, what is the after-tax income of an equivalent firm that pays $15,000 in interest that is tax deductible?
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Question 15
If the supply of savings is not perfectly elastic, the corporate income tax is likely to:
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Question 16
Assuming that a person never receives any cash gifts or bequests, a tax on comprehensive con¬sumption is equivalent to a(n):
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Question 17
In most states, the retail sales tax can be regarded as