If a tax is levied on the buyers of a product, then there will be a(n)
a. downward shift of the supply curve.
b. upward shift of the supply curve.
c. movement up and to the right along the supply curve.
d. movement down and to the left along the supply curve.
d
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Which of the following statements is true?
A) Income inequality within most countries has increased during the past 20 years. B) Income inequality across the entire world has decreased during the past 20 years. C) Income inequality within most countries and across the entire world has not changed much during the past 20 years. D) Both A and B are correct. E) None of the above is correct.
Imposing a tariff on a good leads to a ________ in the price of the product and ________ in imports
A) rise; no change B) fall; a decrease C) rise; an increase D) fall; an increase E) rise; a decrease
Economies of scale exist when the ________ a unit of a good ________
A) average cost of producing; falls as its output rate increases B) price; falls as its input rate decreases C) price; rises as its output rate increases D) average cost of producing; rises as its input rate increases
In the United States from 1949 to 2010, the vast majority of economic growth has been a result of the contribution from
A) capital. B) labor. C) total factor productivity. D) Capital, labor, and total factor productivity have contributed about equally to economic growth.