Refer to the table below. If an excise tax of $3 per unit is imposed on this product, the new equilibrium price with tax will be:
The following table gives data for the market for a product.
A. $6
B. $5
C. $4
D. $2
B. $5
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Crowding out refers to a decline in ________ as a result of an increase in ________
A) government purchases; private expenditures B) government purchases; tax rates C) private expenditures; government purchases D) tax revenues; unemployment
Market demand is
A) the total quantities demanded of all consumers of a particular item at given prices. B) a movement along the demand curve in response to the market. C) total equilibrium demand for the market. D) the demand for and supply of a good or service.
As an economy moves from point to point along its production possibilities curve, which one of the following variables changes?
A) the total amount of resources employed B) the level of technology C) the time frame under consideration D) the amount of each good or service produced
If the rate of interest increases, firms will most likely respond by
a. increasing investment. b. decreasing investment. c. not changing investment. d. increasing capital stock.