Packet 7: Bonus 13
The “incidence” of these policies refers to whether they place a greater burden on buyers or sellers. For 10 points each:
[10e] Name these government policies, often contrasted with subsidies, that charge buyers or sellers money in order to raise government revenue.
ANSWER: taxes
[10h] Taxes create a nonzero value of this quantity by shifting the demand curve to the left. This quantity plus tax revenue equals the decrease in total surplus caused by the tax.
ANSWER: deadweight loss [or DWL; prompt on W]
[10m] Deadweight loss is also created when one of these policies sets the market price [emphasize] above the equilibrium price. The minimum wage is a classic example of these policies.
ANSWER: price floors [prompt on floors; prompt on price controls]
<NYU A, Social Science> | Packet G
| Editions | Heard | PPB | Easy % | Medium % | Hard % |
|---|---|---|---|---|---|
| 2 | 110 | 17.73 | 91% | 58% | 28% |
Conversion
| Team | Opponent | Part 1 | Part 2 | Part 3 | Total | Parts |
|---|---|---|---|---|---|---|
| Brock A | Toronto F | 10 | 0 | 10 | 20 | EM |
| McMaster A | Toronto C | 10 | 0 | 0 | 10 | E |
| McMaster B | Waterloo A | 10 | 0 | 0 | 10 | E |
| Queen's A | Toronto B | 10 | 0 | 0 | 10 | E |
| Toronto A | Guelph A | 10 | 10 | 10 | 30 | EHM |
| Toronto D | Toronto H | 0 | 0 | 0 | 0 | |
| Toronto E | Waterloo C | 10 | 0 | 10 | 20 | EM |
| Toronto I | Toronto G | 10 | 0 | 0 | 10 | E |
| Waterloo B | McMaster C | 10 | 10 | 10 | 30 | EHM |
Summary
| Tournament | Edition | Exact Match? | Heard | PPB | Easy % | Medium % | Hard % |
|---|---|---|---|---|---|---|---|
| UK (North) | UK | Y | 5 | 10.00 | 100% | 0% | 0% |
| UK (South) | UK | Y | 8 | 11.25 | 88% | 13% | 13% |
| Northern California | US | Y | 4 | 25.00 | 100% | 75% | 75% |
| Southern California | US | Y | 7 | 22.86 | 86% | 86% | 57% |
| Eastern Canada (1) | US | Y | 4 | 12.50 | 100% | 25% | 0% |
| Eastern Canada (2) | US | Y | 9 | 15.56 | 89% | 44% | 22% |
| Florida | US | Y | 4 | 15.00 | 100% | 25% | 25% |
| Great Lakes | US | Y | 11 | 21.82 | 91% | 82% | 46% |
| Lower Mid-Atlantic | US | Y | 9 | 15.56 | 89% | 56% | 11% |
| Upper Mid-Atlantic | US | Y | 9 | 18.89 | 78% | 78% | 33% |
| Midwest | US | Y | 9 | 22.22 | 89% | 100% | 33% |
| North | US | Y | 4 | 20.00 | 100% | 50% | 50% |
| Pacific | US | Y | 8 | 15.00 | 88% | 38% | 25% |
| South Central | US | Y | 6 | 10.00 | 83% | 17% | 0% |
| Southeast | US | Y | 12 | 21.67 | 100% | 92% | 25% |
| Upstate NY | US | Y | 1 | 30.00 | 100% | 100% | 100% |