Refer to the Article Summary. Colorado taxes marijuana with a 12.9 sales tax on buyers and a 15 wholesale excise tax on producers, or a total tax of 27.9
Suppose the actual burden of the tax falls 80 percent on consumers and 20 percent on producers. In this case, consumers will actually bear the tax burden of about ________ percent of the selling price and producers will actually bear the tax burden of ________ percent of the selling price.
A) 80; 20 B) 13; 15 C) 46; 54 D) 22; 6
Question 2
Consider two countries, Alpha and Beta. In Alpha, real GDP per capita is 6,000. In Beta, real GDP per capita is 9,000.
Based on the economic growth model, what would you predict about the growth rates in real GDP per capita across these two countries?
A) The growth rate of real GDP per capita in Alpha and Beta will be the same.
B) The growth rate of real GDP per capita will be higher in Alpha than it is in Beta.
C) The growth rate of real GDP per capita will be lower in Alpha than it is in Beta.
D) The economic growth model makes no predictions regarding differences in growth rates of real GDP per capita across the two countries.
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