A tax of $1 on buyers shifts the demand curve downward by exactly $1
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Since 1994, obesity rates in the United States
A) have increased in all 50 states. B) have been on a slow and steady decline. C) have primarily increased in the Southeast and remained constant or slightly decreased in the remainder of the country. D) have remained fairly constant throughout the country.
Use the above figure. Which graph depicts a normal good?
A) A B) B C) C D) D
A farmer grows wheat and sells it to a bakery for $5 . The bakery uses the wheat to bake bread and sells it to a distributor for $20 . The distributor sells the bread to a supermarket for $30, which then sells the bread to customers for $50 . Which of the following is true? a. The value added by the distributor is $30
b. The value added by the supermarket is more than that added by the bakery. c. GDP rises by $50 plus the value added at each stage of production. d. Counting the value added at each stage instead of counting the final selling price creates a problem of double counting. e. The value added by the farmer is $20 because the wheat, which is worth $5, is necessary for each of the three remaining stages of production.
A public good is a good that:
A. when consumed by one individual, can still be consumed by others. B. is available only to those people who help to pay for it. C. is owned by the public. D. when consumed by one individual, cannot be consumed by another.