Should the government wish to lower the price of gasoline to the consumer, one approach might be
A. to take action to shift the supply curve of gasoline to the left.
B. to reduce the gasoline excise tax.
C. to raise the gasoline excise tax.
D. to lower taxes on automobiles.
Answer: B
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The tables above show the marginal costs and benefits from production of paper. If the market is perfectly competitive and unregulated, the equilibrium price is ________ per ton
A) $60 B) $70 C) $80 D) $90
if the govt levies $20 billion in taxes to finance additional spending on military weapons, the net impact on total employment will be
What will be an ideal response?
The typical relationship between inflation and unemployment is
A) unemployment changes do not directly lead to changes in inflation, but inflation changes may cause changes in unemployment. B) as unemployment falls, inflation increases. C) as unemployment falls, nothing happens to inflation. D) as unemployment falls, inflation falls.
The less bowed the Lorenz Curve, the
A) more equal the income distribution. B) less equal the income distribution. C) greater the number of low-income people. D) greater the number of high-income people.