Which of the following is most likely to decrease supply in the market for pizza?
a. Popularity of pizza induces a greater number of fast food joints to include pizza in their menu.
b. Reports reveal that eating pizza increases the risk of stomach ulcers.
c. Cheese prices increase because price supports for dairy farmers are removed.
d. The price of burgers increases due an increase in the price of beef.
c
You might also like to view...
During World War II, whenever interest rates would ________ and the price of bonds would begin to ________, the Fed would make open market purchases
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
The most important determinant of price elasticity of supply is
a. price elasticity of demand b. technological conditions such as how rapidly costs increase when a firm increases its output c. whether the production process relies heavily on capital or on labor d. the number and closeness of available substitutes e. whether the product is a normal good or an inferior good
A tax system in which the average and marginal tax rates are the same for every level of taxable income and every change in income is an example of
A. progressive taxation. B. proportional taxation. C. premium taxation. D. regressive taxation.
According to Congressional Budget Office (CBO) projections:
A. budget deficits are expected to give way to surpluses by the year 2017. B. Social Security will become insolvent by 2017. C. expiration of tax cuts in 2015 will cause the budget deficit to rise to record highs by 2017. D. budget deficits are expected to remain large for the next several years.