Taxation affects most of us and each citizen with an income is taxed in most countries. In our microeconomics class we got to understand much about the cost of taxation. How attentive have you been these past few chapters, do you think you can handle a quiz on it? Take up the quiz below and get to find out for sure. All the best!
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
True
False
A + B + C
D + C + B
A + B + E
C + D + F
A
A + B + C + D
C + D + F
D
C + F
A + B + E
A
A + B
A + B + E
A + B + C + D
D
A
A + B + E
C + D + E
D
A + B + C + D
A
B
C
B + C
B + C + E + F
A
B
C
C + F
B + C + E + F
A + B + C + D
A + B + C + D + E + F
B + C + E + F
E + F
A + D + E + F
A + B + C + D
A + B + C + D + E + F
B + C + E + F
E + F
A + D
B + C
B + C + E + F
A + B + C + D
E + F
A + D
Deadweight curve
Tax revenue curve
Laffer curve
Reagan curve
None of the above is true
Stays the same
Doubles
Increases by a factor of four
Could rise or fall
Could increase tax revenue if the tax had been extremely high
Will always reduce tax revenue regardless of the prior size of the tax
Will have no impact on tax revenue
Causes a market to become less efficient
Increase efficiency
Reduced the price buyers pay
Generated no tax revenue
Caused a deadweight loss