Which of the following would shift the supply curve for MP3 players to the left?
A) an increase in the price of an input used to produce MP3 players
B) a decrease in consumer tastes for MP3 players
C) an increase in the productivity of the workers who produce MP3 players
D) an increase in the number of firms that produce MP3 players
A
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The loss to society resulting from a tax includes the
A) deadweight loss. B) consumer surplus paid to the government in the form of tax revenue. C) producer surplus paid to the government in the form of tax revenue. D) deadweight loss plus the consumer surplus and producer surplus paid to the government as tax revenue. E) deadweight loss minus the tax revenue collected by the government.
Suppose the government increases its expenditures by $100 million and finances the resulting deficit by selling bonds. Then the LM curve will
A) shift rightward. B) shift leftward. C) become steeper. D) None of these.
A tariff is a tax on imports imposed by the country that is importing the goods
a. True b. False Indicate whether the statement is true or false
Refer to Table 3.2, which shows some costs and benefits of having your car repaired. Suppose you use your car to deliver pizzas. If you earn $10 per hour delivering pizzas, what is your best choice of hours to spend on car repairs?
A. 2
B. 3
C. 4
D. 5