Moving to another question will save this response. uestion 7 Why is it important to understand the concept of elasticity when designing tax policy? a, because you disturb the market less when you place that tax on inelastic suppliers or inelastic demanders (or both O b. because it helps you create a progressive tax policy O c. actually, elasticity has nothing to do with taxation. O d. because of the Laffer curve. A Moving to another question will save this response. 2,085 FEB 28 tv MUSLIM YOUTH CLUB ank is quite for you & with you it grows! ( (646)-428-4788 @muslim youth.club themuslimyouthclub@gmail.com typing 10 in theAPARTMENT MARKET Reat/month (price of aprinect ) B Quantity of Apartments This is a graph of the housing market. The City Council passes an upper limit on rents. represented by line "B." How would you characterize this? O a. It's a price ceiling but not binding. O b. It's a binding price ceiling. O c. It's a binding price floor. O d. It's a price floor but not binding. FEB 28 "tvMoving to another question will save this response. Question 9 Which of the following is an example of a binding price floor? O a. A minimum wage law requiring people to be paid at least $30 per hour. O b. A law saying you can't charge more than $2 for a loaf of sandwich bread. O c. A rent control law limiting rent on a one bedroom apartment to no more than $1 million per month. O d. A law saying you can't pay people less than $1 an hour in New York. A Moving to another question will save this response. 2,085 FEB 28 MUSLIM YOUTHA Moving to another question will save this response. Question 10 Many discipines deal with the diamond-water paradox. Economists approach it a. By discussing decision-making at the margin. Ob. By discussing how irrational people are. c. By reminding us of how vain we can be about beauty. d. By telling us it is a simple supply and demand problem. > A Moving to another question will save this response. FEB 28Moving to another question will save this response. Question 11 If you wanted to raise government revenues by imposing a tax , but you wanted to disturb the market as little as possible, an effective choice might be a tax on O a, salt O b. vacation trips O c. apples d. diamonds Moving to another question will save this response. 2,085 FEB 28 tv MUSLIM YOUTH CLUB MYC is made for you a with you it grows. 1 0 6) -428-4788 themuslimyouthclub@ gmail.com y lo in the row typing in the row