What are the different types of tax systems? Give one example of each type of tax system.
How does a higher unit tax affect the size of the deadweight loss? Explain your answer.
If the demand for a good is more elastic than its supply, how will the tax burden be distributed between buyers and sellers?
How does a binding price floor affect the consumer surplus, produce surplus, and social surplus?
If a price ceiling is set above the equilibrium price in the oil market, how does it affect the oil price and quantity?
How can you define corruption? Explain your answers with examples of corrupt activities.