A tax on suppliers will cause the ________ schedule to shift ________.
A. supply, right
B. demand, right
C. demand, left
D. supply, left
Answer: D
You might also like to view...
Public franchises create monopolies by restricting
A) demand. B) prices. C) entry. D) profit.
The natural rate of real output reflects the levels of ______ in the economy.
a. capital, land, labor, and technology b. prices c. consumption, investment, imports, and taxes d. wages
Which of the following statements is true?
A. The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making. B. In capitalism income is distributed on the basis of need. C. Adam Smith was the father of socialism. D. Most real-world economies are mixed economic systems.
The difference between the maximum price a consumer is willing to pay for a product and the actual price the consumer pays is:
A. Allocative efficiency B. Productive efficiency C. The consumer surplus D. The producer surplus