Figure 8-19 the Vertical Distance Between Points a and B Represents the Represents

question 38

Multiple Choice

Figure 8-19
The vertical distance between points A and B represents the original tax.
-Refer to Figure 8-19.If the government changed the per-unit tax from $5.00 to $7.50,then the price paid by buyers would be $10.50,the price received by sellers would be $3,and the quantity sold in the market would be 0.5 units.Compared to the original tax rate,this higher tax rate would

• A)increase government revenue and increase the deadweight loss from the tax.
• B)increase government revenue and decrease the deadweight loss from the tax.
• C)decrease government revenue and increase the deadweight loss from the tax.
• D)decrease government revenue and decrease the deadweight loss from the tax.

Assess the societal and economic effects of legislation on labor unions and employer-union relationships.

Understand the basic principles of resource optimization and how it impacts hiring and production decisions.

Relate productivity of labor to complementary factors and motivation.

Differentiate between output and substitution effects in employment due to technological changes.

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