Recall the Application about the decrease in taxes on cigarettes in several Canadian provinces in 1994 to answer the following question(s). According to this Application, after the government deceased cigarette taxes in several Canadian provinces, demand for cigarettes ________ in these provinces, shifting the demand curve to the ________.
A. increased; right
B. increased; left
C. decreased; right
D. decreased; left
Answer: A
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The graph illustrates the demand curve for soda. After a rise in the price of a soda from $1.00 a can to $2.00 a can, the quantity of soda demanded
A) decreases from 2 cans to 0 cans a day. B) increases from 0 cans to 2 cans a day. C) remains unchanged. D) decreases from 1 can to 0 cans a day. E) cannot be determined from the figure because the demand curve will shift to a new curve.
Oligopolies with kinked demand curves change their prices quickly and frequently
a. True b. False Indicate whether the statement is true or false
Inflation is measured by an increase in:
a. homes, autos and basic resources. b. prices of all products in the economy. c. the consumer price index (CPI). d. None of the answers are correct.
Expectations of inflation are assumed to be constant at each point on a given short-run Phillips curve.
Answer the following statement true (T) or false (F)