PuFi at Hochschule Rhein-Waal

Flashcards and summaries for PuFi at the Hochschule Rhein-Waal

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Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

What is the question of tax incidence?

Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

What are the three rules of tax incidence?

Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

What happens to price if a tax on producers is imposed?
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Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

What happens to price if a tax on consumers is imposed?

Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

What is pay as you use?

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What is Ability to pay?

Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

What is a tax wedge?
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Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

Why do theoretically inelastic parties have to bear tax burden?

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What does a full shifting mean?

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What are preexisting distortions?

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What are the two principles of public goods?
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Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

What is the economic principle 

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Exemplary flashcards for PuFi at the Hochschule Rhein-Waal on StudySmarter:

PuFi

What is the question of tax incidence?
Who bears the real tax burden 

PuFi

What are the three rules of tax incidence?
  • Statutory burden of tax does not describe who really bears the burden 
  • Side of market on which tax is imposed is irrelevant to distribution of tax burden 
  • Inelastic demand parties bear tax burden

PuFi

What happens to price if a tax on producers is imposed?
Prices go up to offset the burden

PuFi

What happens to price if a tax on consumers is imposed?
Price goes down as people will not be willing to pay as much 

PuFi

What is pay as you use?
The more you use public good the higher your contribution to public budget is.

PuFi

What is Ability to pay?
If higher economic ability, higher contribution to public budget 

PuFi

What is a tax wedge?
Difference from what consumers pay an producers receive from transaction 

PuFi

Why do theoretically inelastic parties have to bear tax burden?
Elastic parties try to a avoid them

PuFi

What does a full shifting mean?
One party bears whole tax burden

PuFi

What are preexisting distortions?
Market failures existent before any govt intervention 

PuFi

What are the two principles of public goods?
Non rivalry in consumption
Non excludability

PuFi

What is the economic principle 
Max output with given input 

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