An inward shift of the demand curve for a product causes outward shifts in the demand curves for all the factors used to produce the product.
Answer the following statement true (T) or false (F)
False
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If you put a $20 bill in the pocket of your winter coat at the beginning of spring so that you will be surprised when you find it again next winter, you are using money as:
A. bank reserves. B. a medium of exchange. C. a store of value. D. a unit of account.
Which of the following would result in an increase in the demand for Toyota automobiles?
A. An increase in the price of Toyota automobiles B. A decrease in the price of Toyota automobiles C. A decrease in the price of Honda automobiles D. An increase in the price of Honda automobiles
A single-price monopoly charges the same price
A) even if the demand curve shifts. B) even if its cost curves shift. C) to all customers for each unit of output they buy. D) at all times, and that price equals the firm's marginal revenue.
A sin tax is an example of:
A. a Pigovian tax. B. government policy increasing total surplus in a market. C. a tax that increases the efficiency of a market. D. All of these statements are true.