When the government imposes a specific tax per unit on a product, changes in consumer surplus are ________ and changes in producer surplus are ________
A) negative; positive
B) positive; positive
C) negative; negative
D) positive; negative
C
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Consumer’s surplus is what one consumer is willing to pay for a commodity over what another consumer is willing to pay for the same commodity.
Answer the following statement true (T) or false (F)
When World War II (1941–45) came,
(a) the labor force expanded by very little despite the high unemployment of 1941. (b) unemployment was still high enough that the armed forces could be expanded and war production expanded without a large increase in the labor force. (c) a large increase in the labor force occurred in all categories, including men over 65 and women. (d) none of the above occurred.
In the United States, the supply curve for human organs currently is: a. vertical
b. horizontal. c. downward sloping. d. upward sloping.
Prices of finished imported goods are
a. not included in the CPI because the goods were produced outside the country b. not included in the CPI because different countries choose different base periods c. not included in the CPI because import prices are not denominated in U.S. dollars d. not included in the CPI because most imports are raw materials e. included in the CPI