Mankiw Argues That a Primary Difference Between Taxing Products Like

question 216

Multiple Choice

Mankiw argues that a primary difference between taxing products like gasoline and taxing soda and other sugary drinks is that

• A)consumption of gasoline causes negative externalities on society while consumption of soda affects the consumer.
• B)the government can generate significant revenue from the gas tax but not from a soda tax.
• C)gasoline has inelastic demand but soda has elastic demand.
• D)Both a and c are correct.

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Definitions:

Time and a Half

Time and a half refers to an overtime pay rate of one and a half times the regular rate, typically paid for work done beyond standard working hours.

Hourly Rates

The amount of money charged or paid for one hour of labor or service.

Time and a Half

A rate of pay that is 1.5 times the employee's regular hourly wage, typically paid for overtime work.

Time and a Half

A pay rate that is 1.5 times the employee's standard wage, typically paid for overtime work.