A carbon tax would increase the total volume of greenhouse gases.
Answer the following statement true (T) or false (F)
False
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In response to a price change for good Y, if the cross-elasticity of demand for good Y is negative, good X and good Y are substitutes
a. True b. False Indicate whether the statement is true or false
Assume a price ceiling is imposed at the current equilibrium price in the market for wheat. If the supply of wheat then decreases as a result of bad weather, a. a surplus of wheat will be created
b. a shortage of wheat will be created. c. the quantity of wheat traded remains the same. d. the quantity of wheat supplied will increase.
If we assume that the income elasticity of demand for food has been around 0.2 and that agricultural producers have become increasingly more productive, we can conclude that
A) prices of food have increased. B) supply increases have been less than demand decreases. C) as consumers' real incomes have been increasing over the years, they have been spending absolutely less on food. D) prices of food have been stable. E) none of the above
Which of the following is most likely to be an impact of foreign direct investment?
A. Government revenue of the home country increases. B. The wage rate declines in the host countries. C. The rental rate of capital declines in the home country. D. Temporary unemployment may arise in the home country.