Should the government wish to lower the price of gasoline to the consumer, one approach might be
A) to raise the gasoline excise tax.
B) to reduce the gasoline excise tax.
C) to take action to shift the supply curve of gasoline to the left.
D) to lower taxes on automobiles.
Answer: B
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Outsourcing is
A) one of the factors that shifts the supply of labor curve. B) when a firm employs labor outside the country in which the firm is located. C) when the change in the price of a complementary input causes the demand for labor curve to shift in the opposite direction. D) the cost of using an additional unit of an input.
The principle of subsidiarity is a way to
A) divide power between local governments and unions. B) provide support for industries in decline. C) provide support for industries under pressure from foreign competition. D) divide power between national governments and the EU.
Selling at a price that is only slightly above the firm's cost of production is called predatory pricing
a. True b. False Indicate whether the statement is true or false
According to the IGM poll, what percentage of economists polled agreed that the benefits of ARRA exceeded the costs?
a. 75% b. 19% c. 6% d. 97%