To Measure the Gains and Losses from a Tax on a Good,economists

question 141

Multiple Choice

To measure the gains and losses from a tax on a good,economists use the tools of

• A)macroeconomics.
• B)welfare economics.
• C)international-trade theory.
• D)circular-flow analysis.

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Definitions:

Distractibility

The condition of having one's attention easily diverted from one task or thought to another, often resulting in difficulties in concentration or focus.

Cardiac Arrest

A sudden, unexpected loss of heart function, breathing, and consciousness, typically caused by an electrical disturbance in the heart.

Convulsions

Involuntary, rapid contractions of muscles which can be a symptom of various medical conditions, including epilepsy and fever.

Epinephrine

A hormone and neurotransmitter also known as adrenaline, which increases heart rate, contracts blood vessels, dilates air passages, and participates in the fight-or-flight response.