Relating to the Economics in Practice on page 340: Europe has a carbon tax, and electricity producers are among the largest of the carbon producing firms. The carbon tax increases the costs of the electricity producers, which will shift the ________ curve in the electricity market to the ________.
A. supply; right
B. demand; left
C. supply; left
D. demand; right
Answer: C
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Explain the meaning of the term dead capital, and discuss why its existence retards economic growth
What will be an ideal response?
In the circular flow model, firms sell the services of factors of production to households
Indicate whether the statement is true or false
Refer to Table 3-2. The table above shows the demand schedules for caviar of two individuals (Ari and Sonia) and the rest of the market. At a price of $75, the quantity demanded in the market would be
A) 6 oz. B) 46 oz. C) 52 oz. D) 127 oz.
Suppose that a country becomes relatively better than other countries at producing wind generators, in this country
a. structural unemployment and so the natural rate of unemployment will increase. b. structural unemployment and so cyclical unemployment will increase. c. frictional unemployment and so the natural rate of unemployment will increase. d. frictional unemployment and the cyclical rate of unemployment will increase.