A student working in the lab notices their lips are chapped and wants to apply lip balm from their pocket. What is the only correct and safe course of action according to laboratory safety protocol?

Short answer.  Using data from many countries, a researcher finds that countries collecting a larger share of their revenue from the value-added tax (VAT) and the personal income tax have higher GDP per capita. The finance minister of a low-income country concludes: “If we adopt a VAT and expand our personal income tax, we will become richer.” Do you agree with the minister’s conclusion? Explain your reasoning in the text box, being as specific as you can.

A phlebotomist has just performed a venipuncture on a patient. How would the phlebotomist dispose of the used needle?

True or False: A patient with hemolytic anemia (a condition that shortens RBC lifespan) would likely have a falsely elevated HbA1c result.

A reagent that is freeze-dried and must be reconstituted with a specific diluent before use is referred to as:

Short answer.  In a perfectly competitive market for good Z with no externality, demand and supply are given by Qd = 60 − 3P and Qs = P − 4, where P is the price in dollars and Q is the quantity. As in Question 14, the government imposes a $4 per-unit tax that is legally collected from buyers. Calculate the deadweight loss (DWL) caused by the tax. Show your work in the text box.

Short answer. Country Y (a hypothetical country) funds its public pension system with a 20% payroll tax on formal-sector wages. Workers in the informal sector do not pay the tax. Every retiree receives the same pension, regardless of how much he or she contributed. Assume labor demand and labor supply are neither perfectly elastic nor perfectly inelastic. Using the idea of tax-benefit linkage, explain how the payroll tax affects formal-sector employment and economic efficiency. Answer succinctly in the text box.

Multiple choice.  A state must repay a bond for a new highway. It can either levy a 6% surcharge on gasoline for one year or a 2% surcharge for three years. Assume both options raise the same total revenue. Which option creates less total deadweight loss (DWL)?

Multiple choice. Eissa (1995) used the Tax Reform Act of 1986 to study the labor supply response to income taxes. Which group did she study?

Answer the following question.  A 30.0 L cylinder contains 122.0 g of oxygen gas at 25oC. What is the pressure of the gas in torr? Enter your answer (2 pts). After submitting this exam, upload your matching work in the Midterm 4: Required Work, Partial Credit, and Extra Credit assignment (2 pts). ⚠️Work required for credit.