A tax on sellers reduces the size of a market
a. True
b. False
Indicate whether the statement is true or false
True
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If the quantity supplied of candy increases by 10% when the price of candy increases by 20%, which of the following is TRUE?
A) Supply for candy is elastic, and price elasticity of supply = 2.0. B) Supply for candy is inelastic, and price elasticity of supply = 2.0. C) Supply for candy is elastic, and price elasticity of supply = 0.5. D) Supply for candy is inelastic, and price elasticity of supply = 0.5.
Employers can shift payroll taxes by substituting capital for labor.
Answer the following statement true (T) or false (F)
Command-and-control policies:
A. allow a low-cost firm to abate more pollution. B. encourage firms to develop more efficient abatement technologies. C. usually result in relatively low compliance costs. D. allow us to predict the total amount of pollution that will be discharged.
We can safely say that total output can decrease if there is a(n)
A. decrease in the number of workers per machine. B. increase in the size of the labor force and an increase in the productivity of workers. C. increase in the size of capital and an increase in the productivity of machines. D. increase in the number of machines per worker.