Welfare Economics - Assessment

Welfare Economics

Assessment

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Aaron Robinson

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Other

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10th - 12th Grade

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94 plays

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10 questions

Show answers

1.

Multiple Choice

30 sec

1 pt

According to the Laffer Curve, the y axis would represent

Consumer Surplus

Social Welfare

Government Revenue

Tax Rate

2.

Multiple Choice

30 sec

1 pt

The Laffer Curve illustrates

Continuous growth of deadweight loss

The taxation revenue earned from the rate of a tax.

The amount of total producer surplus

The amount of total consumer surplus

3.

Multiple Choice

30 sec

1 pt

The shaded area of the graph represents

Consumer surplus

Loss of consumer surplus

Loss of producer surplus

Deadweight loss

4.

Multiple Choice

30 sec

1 pt

Which area represents total government revenue?

A and F

C and E

B and D

A+B+D+F

5.

Multiple Choice

30 sec

1 pt

Which area represents total social welfare?

A and F

C and E

B and D

A+B+D+F

6.

Multiple Choice

30 sec

1 pt

Which area represents consumer surplus after the tax?

Area A only

Area D only

B and D

Area A +B + C

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