Daniel’s Designer Drapes sells its standard curtain sets for $100. The government has just imposed a new tax on Daniel’s products. Which of the following would most likely be the price for a standard curtain set after this tax takes effect?
a. $50
b. $99
c. $100
d. $110
d. $110
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In the circular flow model with the government sector, transfers
A) flow only through the goods market. B) flow in the same direction as do taxes. C) flow in the opposite direction as do taxes. D) to firms flow in the same direction as do rent, wages, interest, and profits. E) to households flow in the same direction as do expenditures on goods and services.
If the demand and supply curves for a commodity both shift to the left by the same amount, then in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a higher price quantity. B) the same price and a higher quantity. C) the same price and a lower quantity. D) a lower price and a higher quantity.
Which growth theory predicts perpetual growth?
A) classical growth theory B) neoclassical growth theory C) new growth theory D) None of the above answers is correct.
Providing basic health care and education for poor countries is cost-prohibitive.
Answer the following statement true (T) or false (F)