Does a tax on buyers affect the supply curve?
A. Yes, it shifts to the left by the amount of the tax.
B. Yes, it shifts to the right by the amount of the tax.
C. Yes, it shifts up by the amount of the tax.
D. No, there is change in the quantity supplied, but the supply curve does not move.
D. No, there is change in the quantity supplied, but the supply curve does not move.
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Because special interest groups tend to favor transfer policies rather than economic growth policies, many economists believe that these special interest groups help to improve economic efficiency.
Answer the following statement true (T) or false (F)
In order to formulate whether or not the alternative hypothesis is one-sided or two-sided, you need some guidance from economic theory
Choose at least three examples from economics or other fields where you have a clear idea what the null hypothesis and the alternative hypothesis for the slope coefficient should be. Write a brief justification for your answer. What will be an ideal response?
Refer to the above figure. For which Lorenz curve does the richest 25 percent make 50 percent of the nation's money income?
A) A B) B C) C D) D
According to the special interest theory, the licensing of beauticians would be
a. desired by consumers in order to promote the public interest b. desired by beauticians in order to promote the public interest c. discouraged by all beauty salons, large or small d. desired by some beauticians in order to restrict entry into their profession e. done strictly at the initiative of the government