A sales tax is imposed on the sellers of gasoline. This tax shifts
A) the supply of gasoline curve leftward.
B) the supply of gasoline curve rightward.
C) the demand for gasoline curve leftward.
D) both the supply curve of gasoline and demand curve for gasoline leftward.
A
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The cost of using a good for some specific period of time is called the ________ of the good
A) issue price B) rental price C) auction price D) market price
The four-firm concentration ratio in the breakfast cereal industry is 80 percent
How does the five competitive forces model provide better insight into the degree of competition in the breakfast cereal industry than just observing the concentration ratio?
Banks can hold deposits at the Federal Reserve. Balances in these accounts can be used by banks to meet their reserve requirements, but the Fed pays no interest on these deposits
a. True b. False Indicate whether the statement is true or false
One of the basic principles of economics is that markets are usually a good way to organize economic activity. This principle is explained by the study of
a. factor markets. b. energy markets. c. welfare economics. d. labor economics.