When deciding to implement a congestion tax, economists and the government would use the elements of the economic way of thinking to primarily determine
A) what tax amount should be charged. B) who should be exempt from the tax.
C) if the tax would be allocated equitably. D) how much revenue will the tax generate.
A
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What is an efficient way to study for an economics exam?
A) Attend every lecture and take copious notes. B) Read the assigned material once before each class and once after. C) Form study sessions with others in class. D) Put off everything and instead cram the night before the exam. E) Any of the above might be efficient, depending on one's perceived costs and benefits.
Assume Congress enacts a $10 billion increase in spending and a $10 billion tax increase to finance the additional government spending. The result of this balanced-budget approach is a:
a. $20 billion increase in aggregate demand. b. $10 billion increase in aggregate demand. c. $100 billion increase in aggregate demand. d. $10 billion decrease in aggregate demand.
Which of the following shows the effect of a union on wages?
a. Angelina’s salary and sales commission totaled about the same as her husband’s union manufacturing pay. b. A training specialist, Ruby, found no difference in pay whether she worked in a union or nonunion position. c. Hector’s nonunion assembly line job paid $5.00 less per hour than when he did the same work in a union shop. d. A security worker, Kalen, was looking for a job in the nonunion sector where he could get more pay.
Suppose that a new study is released stating that consumption of orange juice (a substitute for apple juice) reduces the risk of cancer, and a major freeze destroys half of the country's apple crop
What happens to the price and quantity of apple? juice?