Refer to the diagram, where S d and D d are the domestic supply and demand for a product and P c is the world price of that product. With a per-unit tariff in the amount P c P t , price and total quantity sold will be:
A. P t and x.
B. P c and z.
C. P t and y.
D. P a and x.
C. P t and y.
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If the federal funds rate ________.
A. decreases, the prime rate will not change B. increases, the prime rate will decrease C. increases, the prime rate will increase D. decreases, the prime rate will increase
An increase in the marginal tax rate, with the average tax rate held constant, will
A) increase the amount of labor supplied at any real wage. B) not affect the amount of labor supplied at any real wage. C) decrease the amount of labor supplied at any real wage. D) increase the amount of labor supplied at any real wage if the average tax rate is above the marginal tax rate, but decrease the amount of labor supplied at any real wage if the average tax rate is below the marginal tax rate.
Which of the following would shift the aggregate demand curve to the left?
A) an increase in the money supply B) a cut in federal income taxes C) an expected decrease in future income D) an increase in the price level
Name two macroeconomic variables that decline when an economy goes into recession, and name one macroeconomic variable that rises