The imposition of a per unit tax on a product
A. will cause the supply curve to shift upward and to the left.
B. will cause the supply curve to shift downward and to the right.
C. will reduce the quantity supplied of the product.
D. will encourage producers to increase the quantity supplied of the product.
Answer: A
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Over the course of the twentieth century, the typical American
A) remained equally as rich. B) became twice as rich. C) became five times as rich D) became eight times as rich.
One of the three Key Steps of economic analysis is
a. describing the conditions necessary for equilibrium and a method for determining that equilibrium b. determining who are the suppliers and a method for counting the number of suppliers c. determining who are the demanders and a method for counting the number of demanders d. pairing up each demander with a particular supplier e. pairing up each suppliers with a particular demander
The strategy for the shared monopoly is
A. to sell a marginally higher quantity of goods than the rival. B. to take account of the effect of its own behavior on the rival firm's quantity choice. C. to sell at a marginally lower price than the rival. D. collusion.
Refer to the above data. The expenditures approach to GDP calculation can be done by adding:
a. 1 through 7 b. 8 through 13 c. 2 through 7 d. 8 through 11