When government intervenes in the production process because external benefits exist, it typically attempts
A) to impose a tax on each unit produced.
B) to shift the industry's demand curve to the left.
C) to shift the industry's demand curve to the right.
D) to shift the industry's supply curve to the left.
C
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In a competitive market, if buyers did not know all the prices charged by the many firms,
A) all firms still face horizontal demand curves. B) firms sell a differentiated product. C) demand curves can be downward sloping for some or all firms. D) the number of firms will most likely decrease.
Given a constant rate of growth of real GDP, what would lead to an increasing real GDP per capita?
a. a rate of population growth that is less than the rate of growth of real GDP b. a rate of population growth that is greater than the rate of growth of real GDP c. an increase in the size of the labor force d. an increase in the capital stock
If an older worker earns less than a younger worker for the same job, we have proof of age discrimination
a. True b. False Indicate whether the statement is true or false
Which of the following is a positive statement?
A. The minimum wage should not be increased because this action would increase unemployment. B. Smoking should be restricted on all airline flights. C. All automobile passengers should be required to wear seatbelts in order to protect them against injury. D. Intermediate microeconomics should be required of all economics majors in order to build a solid foundation in economic theory. E. none of the above