A change in the price of DVDs will change the
demand for
A.
DVDs.
B.
DVD
players.
C.
Theater
movies.
D.
B &
C
Which of the following best explains why the
government puts excise taxes on alcohol and tobacco but not on
Coca-Cola, beef or butter?
A.
Any amount of
consumption of alcohol or tobacco is worse than any amount of
consumption of butter, beef or Coca-Cola.
B.
The government
wants to take care of us by taxing things that are bad for
us.
C.
Taxing highly
inelastic goods allows the government to raise substantial revenues
without causing excessive loss of sales to suppliers. Putting a tax
on elastic goods with readily available substitutes would cost
those suppliers a great deal of revenue without raising a
sufficient amount of tax revenue to justify the loss to
producers.
D.
Butter, beef and
Coca-Cola have no bad health effects.

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