About 35,000 General Aviation Multiengine Airplanes Are Licensed to Operate

question 131

Multiple Choice

About 35,000 general aviation multiengine airplanes are licensed to operate in the United States. If an additional $1,000-per-year tax was levied on each plane to raise general revenue, economic thinking suggests the

• A) annual revenue from this tax would be less than $35,000,000.
• B) annual revenue from this tax would be $35,000,000.
• C) annual revenue from this tax would be more than $35,000,000.
• D) number of airplanes would increase dramatically.

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Definitions:

Insects

A class of arthropods characterized by a three-part body (head, thorax, abdomen), three pairs of legs, compound eyes, and one pair of antennae.

Coleoptera

An order of insects known as beetles, characterized by their hard forewings (elytra) which cover the hind wings.

Arachnids

Land-dwelling arthropods with no antennae and four pairs of walking legs; spiders, scorpions, mites, and ticks.

Earthworms

Invertebrate animals belonging to the phylum Annelida, known for their role in aerating the soil and enhancing soil fertility.