All but which one of the following could shift the supply curve for bicycles?
A. An increase in the price of aluminum used in the bicycles.
B. An increase in the price of bicycles.
C. An increase in the number of bicycle manufacturers.
D. A new, cheaper way of producing bicycles.
B. An increase in the price of bicycles.
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An increase in the public debt and its subsequent repayment will tend to
A. make the income distribution more equitable in the U.S. B. mildly increase the income inequality in the U.S. C. mildly reduce the income inequality in the U.S. D. have no impact on the income distribution in the U.S.
According to the graph shown, producer surplus is:
A. the area under the demand curve and above the market price.
B. the area under the supply curve and above the price.
C. the area above the supply curve and below the price.
D. the area above the demand curve and below the price.
Resource price differentials that do not trigger the reallocation of resources are known as
a. temporary differentials b. market differentials c. conditional differentials d. permanent differentials e. sustainable differentials
The payroll tax system is a proportional tax for all income earners.
Answer the following statement true (T) or false (F)