According to this Application, after the government deceased cigarette taxes in several Canadian provinces in 1994, the decrease in the price of cigarettes in these provinces
A) increased the smoking rate by roughly 17 percent
B) more than doubled the smoking rate.
C) created no noticeable change in the smoking rate.
D) was accompanied by a slight decrease in the rate of smoking.
A
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The crowding out effect refers to the ________ from ________ in the government's budget deficit
A) decrease in employment; an increase B) decrease in investment; an increase C) increase in investment; an increase D) increase in consumption; an increase E) decrease in consumption; a decrease
What are the three basic economic questions that must be answered by all societies?
What will be an ideal response?
If a consumer purchases more of a product, then most likely the marginal utility of _____
a. that product decreases b. that product remains the same c. other products decrease d. other products increase e. that product increases
If income tax rates are increased in an attempt to balance the federal budget, we should expect to see
a. an increase in consumption and a decrease in GDP. b. an increase in consumption and an increase in GDP. c. a decrease in consumption and a decrease in GDP. d. a decrease in consumption and an increase in GDP.