A price ceiling is a price
A) below which a seller cannot legally sell.
B) above which a seller cannot legally sell.
C) that creates a surplus of the good.
D) Both answers A and C are correct.
B
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In Singapore the government places a $5,000 tax on the buyers of new automobiles. After the purchase of a new car, a buyer must pay the government $5,000. How would the imposition of the tax on buyers be illustrated in a graph?
A) The tax will shift the demand curve to the left by $5,000. B) The tax will shift the supply curve to the left by $5,000. C) The tax will shift both the demand and supply curves to the right by $5,000. D) The tax will shift the demand curve to the right by $5,000.
If planned aggregate expenditure is less than total production
A) the economy is in equilibrium. B) GDP will increase. C) actual inventories will equal planned inventories. D) firms will experience an unplanned increase in inventories.
All games involve which of the following?
A. Multiple players B. Strategies C. Payoffs D. All games involve all of these things.
A . Imagine that the state of Georgia decides to reduce emissions from chemical plants by taxing the production of chemicals. Will this reduce chemical plant emissions in the state? Will your answer to this question depend on whether or not Alabama has
a similar tax? b. Will this tax protect Georgians from the negative externalities associated with these emissions? Will your answer to this question depend on whether or not Alabama has a similar tax?