With a downsloping demand curve and an upsloping supply curve for a product, placing an excise tax on this product will:
A. increase equilibrium price and quantity.
B. decrease equilibrium price and quantity.
C. decrease equilibrium price and increase equilibrium quantity.
D. increase equilibrium price and decrease equilibrium quantity.
Answer: D
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Which of the following types of unemployment is the hardest to reduce?
a. Cyclical unemployment b. Structural unemployment c. Voluntary unemployment d. Frictional unemployment e. Seasonal unemployment
A consumer can be said to have achieved equilibrium with respect to consumption when:
a. the marginal utility of each product consumed is the same. b. the last dollar spent on each product yields the same marginal utility. c. the total utility of each product consumed is at a maximum. d. the marginal utility of each product consumed is at a maximum.
Which of the following is true regarding the foreign holdings of U.S. dollars?
What will be an ideal response?
Economic analysis on empowerment has shown that most firms have
A. used benchmarking to arrive at erroneous conclusions. B. failed to delegate decision-making rights to lower-level employees. C. failed to use corporate culture to enhance communication and build employee expectations. D. increased profits by delegating decision-making rights to lower-level employees.