Referring to discussion in an Added Perspective, Stanley Jevons warned in 1865 that England would quickly run out of
a. lumber
b. food
c. coal
d. oil
e. clean water
C
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You hear a candidate for the U.S. Congress state that a tax on stocks is an equitable way for the government to raise revenue because it only affects the very wealthy. Evaluate this statement
When money wages rise, the most significant effect on the aggregate supply curve is that it
A. shifts outward. B. shifts inward. C. becomes flatter. D. becomes steeper.
Under ________ exchange rates, monetary policy is powerful in its effects on internal balance. This conclusion holds
A. fixed; only with perfect capital mobility. B. floating; only with low capital mobility. C. floating; with all degrees of capital mobility. D. fixed; with all degrees of capital mobility.
Use the figure below to answer the following question.
What area represents society's total surplus after the government imposes the excise tax on the market?
A. triangle $1c$9 plus triangle $21a$13 B. triangle abc C. square $13ac$9 plus triangle abc D. triangle $1c$9 plus triangle $21a$13 plus rectangle $13ac$9