When a tax is levied on the buyers of a good, the
a. supply curve shifts upward by the amount of the tax.
b. quantity supplied increases for all conceivable prices of the good.
c. buyers of the good will send tax payments to the government.
d. demand curve shifts to the right by the horizontal distance of the tax.
c
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One reason that a large share of the trade between high-income industrial economies is intraindustry trade is because
A) it is more advantageous than interindustry trade. B) high-income industrial economies produce in the first stage of the product cycle. C) high-income industrial economies are wealthier than developing countries. D) high-income industrial economies have dissimilar resource endowments in absolute terms. E) it allows firms to take advantage of internal economies of scale.
How does adverse selection affect the economic efficiency of the used car market?
What will be an ideal response?
Which one of the following was NOT a reason why Brazil's infant industry protection of its personal computer industry was a failure?
a. Imported silicon chips were expensive to obtain. b. Local regulations limited the entry of new firms in the industry. c. Domestically produced parts required by the Brazilian PC industry were expensive. d. The Brazilian government continued to purchase imported PCs.
GDP per capita:
A. tells us how much is produced per person in an economy. B. paints a clearer picture of how thin the output is spread across a population. C. is calculated by dividing GDP by the population size of the economy. D. All of these statements are true.