Firms that can choose what price they will charge for their product and can increase the number of units sold by reducing price are called
a. price searchers.
b. price leaders.
c. purely competitive.
d. price takers.
A
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In the aggregate expenditures model, a tax increase causes a(n):
a. upward shift in the aggregate expenditures curve. b. downward shift in the aggregate expenditures curve. c. shift in the 45-degree line. d. rightward movement along the aggregate expenditures curve. e. leftward movement along the aggregate expenditures curve.
If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the price of cigarettes will fall. This fall in prices can be attributed a(n):
A. upward movement along the supply curve for cigarettes. B. rightward shift of the supply curve for cigarettes. C. upward movement along the demand curve for cigarettes. D. leftward shift of the supply curve for cigarettes.
The difference between revenues and expenditures for inputs is known as
A. profits. B. debits. C. cash flow. D. net revenue.
The idea of a carbon tax makes more sense at the _________ level because it is ____________.
A. individual; easier to monitor B. individual; going to have a larger impact C. corporate; going to have a larger impact D. corporate; easier to monitor