A pollution tax penalizes inefficient firms.
Answer the following statement true (T) or false (F)
True
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Contractionary monetary policy involves actions that:
A. reduce the money supply in order to decrease aggregate demand. B. increase the money supply in order to decrease aggregate demand. C. reduce the money supply in order to increase aggregate demand. D. increase the money supply in order to increase aggregate demand.
Compared to the 1950-1973 period, output per worker ________ in the 1974-1995 period.
A. decreased more rapidly B. increased more slowly C. increased more rapidly D. decreased more slowly
Figure 18-1
According to the graph in Figure 17-1, tax collections will be which of the following?
A. 14 million B. 1.4 million C. 12 million D. 1 million
The short-run individual supply curve of the perfectly competitive firm is:
a. the upward-sloping portion of its average variable cost curve. b. its average total cost curve. c. its marginal cost curve above average variable cost. d. its marginal cost curve above average total cost.