When a tax is present in a market, the price paid by consumers:
A. equals that received by suppliers, but it is higher than the market price in the absence of taxes.
B. is greater than that received by suppliers.
C. is less than that received by suppliers.
D. equals that received by suppliers, but it is lower than the market price in the absence of taxes.
B. is greater than that received by suppliers.
You might also like to view...
The property rights of commissioners appointed to the Food and Drug Administration encourage them to
A) call for additional testing of a new drug even when a delay in approval is liable to cost more lives than additional testing is likely to save. B) make decisions in the interest of drug manufacturers. C) make decisions in the interest of physicians and patients. D) rush new drugs onto the market before they have been adequately tested. E) work shorter hours and take longer vacations than employees in the food and drug industries.
On January 1, 2006, a consumer borrowed $10,000 for a term of one year at an interest rate of 12 percent. How much principal and interest will the consumer pay back on January 1, 2007?
a. $10,000 b. $1,200 c. $8,929 d. $11,200
Which of the following statements is not true?
A. Periods of growth below the potential level are periods of high unemployment. B. Periods of growth above the potential level are periods of low employment. C. Periods of growth below the potential level are periods of low unemployment. D. The potential growth rate in the U.S. economy may have fallen following the financial crisis of 2007-2009.
An example of a good that is nonexcludable is:
A. cable TV. B. a computer. C. a published scientific discovery. D. a concert.