80.2K

Verified Solution

Link Copied!

ECON 1000 (Fall 2021 - Section 20) Quiz #6 Multiple Choice Questions (10 points each) 1. Which of the following best provides an example of a Compensating Differential? A "Pat has a higher salary than Chris. Their two jobs are identical in many respects, except Pat has a higher chance of getting injured or killed on the job. "Oliver has a greater level of wealth than Jamie This is due mainly to the fact that five years ago Oliver inherited $250,000 from an uncle who passed away." C "Nicols wants to open a new restaurant in Venezuela. To do so legally, he must follow 20 procedures and incur costs equal to roughly 211.8% of the annual per capita income in Venezuela. If he chooses to do so, he could have his new business open in roughly 230 days." D "Todd smokes a pack of cigarettes every day. The government is contemplating increasing the per unit tax on cigarettes by $2 per pack. If they impose this tax, Todd will quit smoking entirely." Based upon the discussion of Gini Coefficient values and levels of mean and median household incomes, between 1979 and 2019 in the U.S. average incomes have A decreased and income levels have become more unequal (t... greater income inequality), . decreased but income levels have become more equal fi.e., less income inequality) . increased but income levels have become more unequal (t.e.. greater income inequality). D. increased and income levels have become more equal (i... less income inequality). Country Z imposes an income tax as follows: all income earned between 0 and 60,000 is taxed at a marginal rate of 10%; all income camed between 60,000 and 100,000 is taxed at a marginal rate of 25% and all income above 100,000 is taxed at a marginal rate of 20%. The income tax in Country Z A is a regressive tax (since Average Tax Rate decreases as income is increased). B is a proportional tax (since Average Tax Rate remains constant as income is increased), C is a progressive tax (since Average Tax Rate increases as income is increased) D is not regressive, proportional, or progressive (since Average Tax Rate initially increases but then decreases as income is increased) is described as attempts by people to manipulate government action or influence government decisions to make themselves better off at the expense of others A Rent Seeking B Regulatory Capture C Redistribution D Rational Ignorance For Question 5. consider three different sets of "institutions that a society could implement which result in different levels of wellbeing happiness for its members. Some of the resulting characteristics of levels of wellbeing happiness under these three alternatives are: Maximum Wellbeing Minimum Wellbeing Average Wellbeing Institutions Alpha 435.915 348,640 405,000 Institutions Beta 498,735 3600 417 500 Institutions Gamma 678,155 308,420 440.250 Institutions Delta 825.375 312,260 475.750 Based upon the observations above, it would seem that someone adhering to a Utilitarian Justice philosophy would most likely prefer while someone adhering to a Rawlsian Justice philosophy would most likely prefer A Institutions Alpha: Institutions Beta. B Institutions Beta: Institutions Alpha C Institutions Delta, Institutions Beta. D Institutions Delta: Institutions Gamma For qarini refererande delen, er der var deeway "wy i Note that the Lame Career Control del tally intend pas here and Care for "X They were Cow Spec.( ACH) www.th 13 Tomas CS fermedios and colder market in Super Demandes deste delove ose her the efficile 2010 poly 26.80 25.55 24.30- Demand 7 A 17,460 25,00 37.800 per fan hyn in this articulier at 15.00 w $45,00 C wa Shule 56.190 . Csider the food a 125 per it imposed oubyen 51.10 per ta med den We caniner that entity of take white commended Teine weitere The Cellers de fer u. BTWA More than one perts all of these were come Fer quand ide at iw which representes free in legislatiei de credere paling the sales and therefollas de cleach legisladries forces is as follows: D D D D D D Proposal 690 190 19 39000 P140992575 350 235 Proposal -3% 175 193 First you that appeal trusty, with chruth wild by one of his mother. The web w Appena ve de cate de Descat defeated deleted 10 Now suppose that the neoprenowaly naging by onde te Meer will consideran diferentes ter and having a single per poke on the package of respons Which of the follow me on! A Pupinapakage will collectively. The Total plane se paqarte B Propecals 1 pockage, they will city. This come Tal Social Stoneheerstely C hapadi, taliamey e LIL & Healthy will be This de Total Social Superlative in the preparaty D

Answer & Explanation Solved by verified expert

See Answer