If rice is an inferior good, a decrease in income will
A. cause rice to sell at a lower price.
B. increase the production of rice.
C. shift the demand curve for rice to the left.
D. shift the demand curve for rice to the right.
D. shift the demand curve for rice to the right.
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In 2006, a Social Security (FICA) tax of 7.65% of payroll earnings was paid by both the employee and the employer
Indicate whether the statement is true or false
If the government levies a $5 tax per MP3 player on buyers of MP3 players, then the price paid by buyers of MP3 players would likely
a. increase by more than $5. b. increase by exactly $5. c. increase by less than $5. d. decrease.
The rate of output that maximizes profit for a monopolist can be found where ________
a. average revenue equals marginal cost b. price equals marginal cost c. marginal revenue equals marginal cost d. total revenue is maximized
Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B