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

120 units
60 units
80 units
90 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?

80 units
120 units
60 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?

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

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?

$20
$4.00
$8.00
$24

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 ________.

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

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

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

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

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

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

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

$30
$90
$60
$45

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