"Sin taxes," such as taxes on alcoholic beverages, are intended to
A) generate funds to aid in the medical care of those harmed by the product.
B) reduce the quantity demanded.
C) generate money to subsidize production of the products taxed.
D) increase the amount of the products supplied.
B
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Which of the following are included in the supply of loanable funds?
I. private saving II. government budget surplus III. international borrowing A) I, II and III B) I and III C) II and III D) I and II
An efficient economy:
a. uses available resources fully. b. uses the best division of labor. c. produces an output combination at some point along the production possibility curve. d. all of these.
Refer to the graph shown. If the supply curve shifts from S1 to S2, the value of the dollar will:
A. decrease in response to excess supply equal to Q3 - Q1. B. increase in response to excess demand equal to Q4 - Q2. C. decrease in response to excess supply equal to Q4 - Q2. D. increase in response to excess demand equal to Q3 - Q1.
A technological breakthrough in using photons for computers will increase the productivity of those working with computers a hundredfold. You would expect this breakthrough to shift the
A. labor supply curve up, reducing the quantity of labor demanded at any given real wage. B. labor supply curve down, raising the quantity of labor demanded at any given real wage. C. marginal product of labor curve up and to the right, raising the quantity of labor demanded at any given real wage. D. marginal product of labor curve down and to the left, reducing the quantity of labor demanded at any given real wage.