The figure above shows the market for tires. The figure shows that the government has imposed a tax of ________ per tire
A) $10
B) $30
C) $40
D) $60
E) None of the above answers is correct.
B
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Roughly what was the change in Venezuela's per capita GDP between 1960 and 2011?
A) 4% B) 14% C) 44% D) 88%
The Taylor Principle states that central banks raise nominal rates by ________ than any rise in expected inflation so that real interest rates ________ when there is a rise in inflation
A) less; rise B) more; fall C) less; fall D) more; rise
Suppose Arf n' Barf restaurant has a monopoly on restaurant food in a certain small town. Their rent, which is one of several fixed costs they pay whether they sell food or not, has gone up. In the short run, the Arf n' Barf should
a. pay the higher rent and increase menu prices b. pay the higher rent and leave menu prices unchanged c. pay the higher rent and lower prices d. go out of business e. shut down
For the 1952-2014 period in the United States, output per worker hour
A. showed the largest increase during the 1980s. B. fluctuated around an upward trend. C. increased at a constant rate. D. decreased during the 1960s.