If the U.S. were to place a carbon tax on fossil fuels, we can expect:
A. the price of fuel oil to decrease.
B. the price of fuel oil to increase.
C. no change in the price of fuel oil.
D. an increase in demand for fuel oil.
Answer: B
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In the above figure, if the price is P1 and the firm produced Q3, the firm's economic profit is ________ than if it produced Q1 and ________ than if it produced Q2
A) less; less B) less; more C) more; less D) more; more
If the marginal propensity to consume is 0.8 and if government spending (G) rises by 50 while investment (I) falls by 20, by how much will equilibrium income rise?
a. 12 b. 10 c. 30 d. 120 e. 150
An example of a public good is a flood control project that protects all the homes and properties near a river
a. True b. False Indicate whether the statement is true or false
When will an individual's budget line coincide with an iso-expected value line?
a. Always. b. Never. c. When the individual is risk-neutral. d. When the individual is offered fair odds.