The more willing suppliers are to substitute away from a taxed good, _____
a. the larger the proportion of the tax paid by demanders
b. the smaller the proportion of the tax paid by demanders
c. the greater the increase in output will be
d. a and c
a
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Government prohibition of advertising cigarettes on television would most likely result in
A) a rightward shift in the demand curve for cigarettes. B) a leftward shift in the demand curve for cigarettes. C) a rightward shift in the demand curve for television advertising time. D) no change in the market for either cigarette or television advertising.
Most U.S. imports are
a. manufactured goods b. agricultural services c. petroleum and related products d. minerals such as bauxite and nickel e. military goods
Assuming that chicken and beef are substitutes, a decrease in the price of beef, other things being equal, will:
a. decrease the demand for beef. b. increase the demand for chicken. c. decrease the demand for chicken. d. increase the demand for beef.
The law of supply implies that
A. Supply curves are flat. B. A change in a determinant of demand shifts the supply curve. C. Supply curves are downward-sloping to the right. D. Supply curves are upward-sloping to the right.