help in AP Econ homework please?
Question by lola123: help in AP Econ homework please?
1. Which of the following characterizes a public good?
a. people who do not pay for the good can be escluded from using it.
b. if one person uses the good, it goes not prevent others from using it,
c. it is easy to determine who must pay for the good.
d. the good is produced by the public sector.
e. the good exhibits positive externalities.
2. The sales tax you pay at the local sporting goods store is commonly labeled a:
a. progressive tax
b. regressive tax
c. proportional tax
d. excise tax
e. tax bracket
3. The free rider problem is associated with
a. all market goods
b. goods that are exclusionary
c. bus transportation
d. the production of public goods
e. the production of public transportation
4. The ability-to-pay principle of taxation:
a. has been declared illegal because it deprives on property without “due process of law”
b. suggests that one should pay taxes in proportion to the benefits one derives from public goods and services
c. suggests that taxes should vary directly with one’s income and wealth
d. suggests that taxes should vary inversely with one’s income and wealth
e. suggests that if you have a job, you should pay for the taxes that fund public goods and services
5. If the demand for a product is perfectly elastic and supply is upsloping, a $ 1 excise tax per unit on suppliers will:
a. not raise price at all
b. lower price by $ 1
c. raise price by more than $ 1
d. raise price by $ 1
e. lower price by more than $ 1
6.The Lorenz curve is used to visualize the:
a. progressiveness of the Federal tax system
b. degree of inequality in the distribution of income
c. degree of discrimination against African-Americans and other ninorities
d. percentage of the population which is below the poverty line
e. percentage of people without a college education
7. Pollution abatement policies will improve efficiency if the
a. marginal cost of abatement is less than the marginal benefit of abatement
b. MB of abatement is less than the MC of abatement
c. MC of abatement is positive
d. MB of abatement is positive
e. MC of abatement is zero
8. Private firms will not provide such goods as lighthouses or flood-control projects bc:
a. such projects generate harmful spillover effects
b. MB invariably fall short of marginal costs in such projects
c. they are major sources of revenue for government
d. tjere is a free-rider problem associated with these products
e. it is impossible to earn a profit from these goods
9. Which of the following is likely to be considered a public good?
a. a movie theater in a low-income neighborhood
b. an amusement park built on an empty rural lot
c. a fireworks display funded by the city
d. a catfish pond in a gated community
e. a swimming pool in a condo development
these are review problems that will count as a quiz grade. there were 150 questions and i just couldn’t THINK straight after the first 90 so these are some that i didn’t get to. please just type the #then the answer. thank you so much!!
Best answer:
Answer by avi
I only know a couple:
1) b [since public goods are both non rivalrous and non excludeable
2) I am guessing it’s an excise tax
5) I think it’s (a) because all of the tax burden is borne by the suppliers in this case
6) b
9) c
What do you think? Answer below!