The figure illustrates the marginal benefit and marginal cost of different quantities of national defense. What quantity will maximize net benefit from national defense?

80 units
120 units
90 units
60 units

The figure illustrates the marginal benefit and marginal cost of different sizes of national defense. What is the political equilibrium if voters are well informed?

120 units
60 units
80 units
90 units

The table shows the market for chocolate bars. A $0.40 excise tax is added to each chocolate bar. What is the quantity bought per week before the tax is imposed and the quantity bought per week after the tax?

120; 140
100; 120
180; 120
120; 100

The table shows the market for chocolate bars. A $0.40 excise tax is added to each chocolate bar. What is the total amount of tax revenue raised by the government?

$48.00
$40.00
$4.00
$4.80

The table shows the market for chocolate bars. A $0.40 excise tax is added to each chocolate bar. What is the deadweight loss of this tax?

$8.00
$20
$24
$4.00

The citizens in a tiny democratic nation prefer the following income tax rates. The median voter is _______ and the income tax rate proposed by political parties is ________.

Kevin; 20 percent
Walter; 5 percent
Vicky; 40 percent
Norman; 15 percent

The citizens in a tiny democratic nation prefer the following income tax rates. If Walter changes his mind and decides he prefers an income tax rate of 30 percent, the income tax rate proposed by political parties __________________.

increases by 5 percent
is the rate proposed by Walter
increases by 20 percent
remains the same

The table gives the demand and supply schedules in a competitive labor market. If a payroll tax of $9.00 an hour is imposed, the wage rate _______________________.

falls to $6 per hour and employment falls by 10 hours per week
remains at $9 per hour
increases by $9 per hour
falls to $6 per hour and employment remains the same

The table gives the demand and supply schedules in a competitive labor market. If a payroll tax of $9.00 an hour is imposed on employees, the wage rate ____________________.

is the same as if the tax were imposed on employers
remains at $9 per hour
increases by $9 per hour
falls to $6 per hour and employment remains the same

The table gives the demand and supply schedules in a competitive labor market. A payroll tax of $9.00 an hour will create a deadweight loss of ____________.

$45
$60
$30
$90

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