Which of the following strategies will a government adopt to increase the production of a good?
a. An excise tax on producers
b. An excise tax on consumers
c. A subsidy to buyers
d. A capital gains tax on producers
c
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The Coinage Act of 1792 set the relative values of silver and gold coins at 15 to 1 . Suppose the relative market values of silver and gold had equaled 16 to 1 . In this case,
a. only gold would circulate as money. b. gold would be hoarded and sold abroad. c. gold would be overvalued at the mint. d. individuals would profit by selling gold to the mint.
The tax on cigarettes is
A. regressive and indirect. B. regressive and direct. C. progressive and indirect. D. progressive and direct.
Which of the following examples has an elastic supply curve?
a. An 8 percent increase in the price of wrenches results in a 6 percent increase in quantity supplied. b. An 11 percent increase in the price of nails results in a 15 percent increase in quantity supplied. c. A 15 percent increase in the price of plugs results in a 12 percent increase in quantity supplied. d. A 20 percent increase in the price of plywood results in a 20 percent increase in the quantity supplied.
In the market for money, the supply curve is made up of
A. savers. B. neither borrowers nor savers. C. a combination of borrowers and savers. D. borrowers.