An increase in the excise tax imposed upon consumers of gasoline
A. shifts the market price of gasoline.
B. shifts the demand for gasoline to the right.
C. shifts the demand for gasoline to the left.
D. shifts the supply of gasoline to the right.
Answer: C
You might also like to view...
Which of the following will possibly cause a leftward shift in the production possibility curve, representing good X and good Y?
a. A decrease in a country's GDP b. An increase in the price of good X c. An increase in the price of good Y d. A decrease in the price of good Y e. A decrease in the price of good X
An increase in the wage rate lowers the opportunity cost of leisure and induces people to enjoy more leisure
a. True b. False Indicate whether the statement is true or false
Suppose you are planning to open a lemonade stand. List separately all the explicit and implicit costs that might be involved
The price system has
A. prices fixed by the government. B. prices fixed by the seller. C. prices fixed by the producer. D. voluntary exchange.