When a tax is imposed on a good, the
a. supply curve for the good always shifts.
b. demand curve for the good always shifts.
c. amount of the good that buyers are willing to buy at each price always remains unchanged.
d. equilibrium quantity of the good always decreases.
d
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The Bretton Woods system was established in 1944 and remained in place until the early 1970s
Indicate whether the statement is true or false
Suppose Ernie gives up his job as financial advisor for P.E.T.S., at which he earned $30,000 per year, to open up a store selling spot remover to Dalmatians. He invested $10,000 in the store, which had been in savings earning 5 percent interest. This year's revenues in the new business were $50,000 . and explicit costs were $10,000 . Calculate Ernie's accounting profit
a. $10,000 b. $50,000 c. $20,000 d. $40,000 e. $9,500
An emissions standard will work best in which of the following cases?
a. The marginal cost of pollution reduction curve is relatively flat b. The marginal cost of pollution reduction curve is relatively steep c. All firms have similar equipment and technology d. The health effects of a pollutant are relatively unknown e. Firms have very different equipment and technology
Among full-time U.S. workers, white women earn about _______ percent less than white men, and black men earn about ________ percent less than white men.
a. 5, 40 b. 20, 20 c. 20, 40 d. 5, 20