If a tax is levied on the sellers of a product, then the supply curve will
A. shift up.
B. become flatter.
C. shift down.
D. not shift.
A. shift up.
You might also like to view...
Scarcity is the fundamental problem of the economy.
Answer the following statement true (T) or false (F)
In economics, a public good:
A.) Is any good produced by the government. B.) Has social costs that are lower than private costs. C.) Is provided in an optimal amount by the market. D.) Cannot be denied to consumers who do not pay.
A Phillips curve shows the short-run relationship between
A) potential GDP and real GDP. B) the nominal interest rate and the real interest rate. C) tax rates and tax revenues. D) the unemployment rate and the inflation rate.
Travel insurance (which pays a traveler if the traveler needs to cancel his or her trip) has a clause that states it will not pay if the trip is cancelled because of a pre-existing condition
If sick people are more likely to purchase travel insurance, this clause is meant to A) reduce moral hazard. B) reduce adverse selection. C) increase moral hazard. D) increase adverse selection.