As long as the supply curve for a good is upward sloping and the demand curve is downward sloping, a sales tax imposed on sellers shifts the supply curve
A) leftward and definitely raises the equilibrium price.
B) leftward and possibly raises the equilibrium price.
C) rightward and possibly increases the equilibrium quantity.
D) rightward and definitely decreases the equilibrium quantity.
A
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Refer to Figure 13-17. What is the allocatively efficient output for the firm represented in the diagram?
A) Qf units B) Qg units C) Qh units D) Qj units
Which of the following is a determinant of consumer demand?
A) expectation of the future relative price of a product B) taxes imposed on firms that sell the product C) cost of inputs used to produce the product D) number of firms that produce the product
When job search is the explanation for unemployment, workers are searching for the jobs that best suit their tastes and skills, but when the wage is above the equilibrium level, the quantity of labor supplied exceeds the quantity of labor demanded, and workers are unemployed because they are waiting for jobs to open up
a. True b. False Indicate whether the statement is true or false
The short-run equilibrium price level and real GDP is derived where the short-run aggregate supply (SRAS) curve intersects the long-run aggregate supply (LRAS) curve
Indicate whether the statement is true or false