An increase in a per unit production tax ______ supply.
Fill in the blank(s) with the appropriate word(s).
Answer: decreases
You might also like to view...
Fractional reserve banking is a system in which
A) depository institutions pay a fraction of advertised interest rates. B) a fraction of banking services must be provided by depository institutions. C) depository institutions hold a fraction of total deposits in reserve. D) the money supply is a set fraction of the U.S. gold reserves.
Joe and Steve are duopolists who each can follow two strategies: cooperate and jointly act like a monopolist, or don't cooperate (cheat) and act like duopolists. Their profits are as follows:If both cooperate: both receive $1 millionIf one cooperates:cooperator receives $200,000, cheater receives $1.2 millionIf both cheat:both receive $500,000What will they do?
What will be an ideal response?
Which one of the following statements is TRUE?
A. The shape of the Keynesian short-run aggregate supply curve is based on the conclusion that there is no correlation between the level of real GDP and the employment level. B. The shape of the Keynesian short-run aggregate supply curve is based on the conclusion that domestic workers are harmed by imports. C. The shape of the Keynesian short-run aggregate supply curve is based on the conclusion that increases in aggregate demand will increase the price level, but will leave real GDP unaffected in the short term. D. The shape of the Keynesian short-run aggregate supply curve is based on the conclusion that increases in aggregate demand can boost output in the short term.
Policies that mandate the installation of specific pollution control devices are called
A) command-and-control policies. B) benefit policies. C) welfare policies. D) incentive policies.