The above figure shows the market for buckets of golf balls at the driving range. A new leisure time tax is placed on suppliers in this market, shifting the supply curve from S0 to S1. The total tax revenue is equal to
A) $1,800.
B) $600.
C) $1,200.
D) $900.
E) $5,600.
C
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If the number of people unemployed is 100, the number of people employed is 1000, and the working-age population is 1400, then the unemployment rate is
A) 6.6 percent. B) 10 percent. C) 9.1 percent. D) 7.1 percent.
The government significantly raised farm incomes by raising farm prices by: (i) destroying crops, (ii) slaughtering millions of baby pigs and pregnant sows, (iii) paying farmers not to grow crops and (iv) injecting dye into harvested potatoes,
making them inedible. Indicate whether the statement is true or false
An increase in fixed cost will, in the long run, alter the industry output of
a. both a monopolist and a competitive industry. b. only a monopolist. c. only a competitive industry. d. neither a monopolist nor a competitive industry.
Since a tax imposed on buyers of a product only affects demand, such a tax has no impact on sellers in that market
a. True b. False Indicate whether the statement is true or false