If we wanted to analyze the effects of a $2 unit tax graphically, we would shift the
A) supply curve upward by $2.
B) supply curve downward by $2.
C) demand curve upward by $2.
D) demand curve downward by $2.
Answer: A
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Nominal GDP is the market value of ________.
A. all output produced and accumulated over the years B. resources (land, labor, capital, and entrepreneurship) in an economy in a given year C. all consumption and investment spending in an economy in a given year D. all final goods and services produced in an economy in a given year
How have government policies and programs affected the volatility of the business cycle in the United States since 1950? Explain and provide at least two specific examples of policies or programs that may have had an impact
What will be an ideal response?
The most extensive indexing in the United States is in
a. interest payments on bonds or savings accounts. b. government transfer payments, including Social Security benefits. c. government contracts for military goods. d. escalator clauses in wage and salary contracts.
Equilibrium price is
A. $10.
B. $8.
C. $6.
D. $4.