If the price effect outweighs the quantity effect, then a tax:
A. increase will raise revenue.
B. decrease will raise revenue.
C. increase will lower revenue.
D. increase will not change revenue.
A. increase will raise revenue.
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A substitute is a good
A) that can be used in place of another good. B) that is not used in place of another good. C) of lower quality than another good. D) of higher quality than another good.
How is the mean calculated from a series of observations? Suppose 5,000 people bought popsicles on a hot summer day. If the average number of popsicles that each person bought is 2, how many popsicles were sold that day?
What will be an ideal response?
Which of the following cities does not have a Federal Reserve Bank?
a. Dallas b. Kansas City c. Los Angeles d. Cleveland e. Miami
Suppose an influenza pandemic were to significantly decrease the population of a country. We would predict a decrease in the marginal product of land in that country
a. True b. False Indicate whether the statement is true or false