The imposition of an excise tax on a product will shift that product's ________ curve vertically by the exact amount of the tax. This represents ________.
A. supply; a decrease in supply.
B. ?demand; a decrease in demand.
C. ?supply; an increase in supply.
D. ?demand; an increase in demand.
Answer: A. supply; a decrease in supply.
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In 1982 the CEO of American Airlines spoke on the telephone to the CEO of Braniff Airlines. The CEO of American Airlines proposed that the two airlines fix prices. The CEO of Braniff Airlines rejected the proposal. The CEO of American Airlines:
A) was within his 1st Amendment right to free speech. B) was in violation of the antitrust laws which prohibit price fixing. C) was in violation of the antitrust laws which prohibit predatory pricing. D) Both B and C are correct. E) None of the above is necessarily correct.
Lemonade anyone? Raymond decides to set up a lemonade stand every weekend for the next four weeks to save up for the latest x-men comic. He has to pay his brother Robert $10 as a one-time payment for him to not bully Raymond or drive his customers away
The lemons and sugar cost him $10 (the water is free) and his dad offers to set up his stall for him. He ends up making $15 his first weekend. Frank, his father notices this and advises Raymond to shut down the stall since he is making less than he is spending on the stall. What would you advice Raymond to do?
Providing information to external users' decision making is the purpose of which of the following?
a. Management Reports b. Tax forms c. Financial statements d. Inventory reports
At ________ levels of output, the economy can expand with little or no increase in the overall price level because firms likely hold excess labor and capital, and production can be increased without causing input prices to increase.
A. full capacity B. high C. full employment D. low