Suppose the market demand function for ice cream is Qd = 10 - 2P and the market supply function for ice cream is Qs = 4P - 2, both measured in millions of gallons of ice cream per year. Suppose the government imposes a $0.50 tax on each gallon of ice cream. The price received by sellers with the tax is:
A. $2.33.
B. $1.50.
C. $1.75.
D. $1.83.
D. $1.83.
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Involuntary part-time workers are workers who
A) work less than 35 hours but would like to work full time. B) work more than 35 hours but would like to work less than 35 hours. C) work have lost their jobs within the last four weeks and are seeking another job. D) work less than 35 hours by choice. E) have withdrawn from the labor market.
Which organization determines procedures for the settlement of international trade disputes?
A) World Bank B) World Trade Organization C) International Monetary Organization D) International Bank for Reconstruction and Development E) The League of Nations
This graph depicts a tax being imposed, causing demand to shift from D1 to D2. The amount of the tax imposed in the graph shown is equal to:
A. (P1 P3).
B. (P2 P1).
C. (P4 P2).
D. (P4 P3).
U.S. corporations are not motivated to protect the interests of small shareholders
a. True b. False