If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the equilibrium price of cigarettes will fall. This fall in the equilibrium price can be attributed to a(n):
a. upward movement along the supply curve for cigarettes.
b. rightward shift of the supply curve for cigarettes.
c. upward movement along the demand curve for cigarettes.
d. leftward shift of the supply curve for cigarettes.
b
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In an oligopoly, output is
A) less than the output in monopoly. B) greater than the output in perfect competition. C) in all circumstances the same as the output in perfect competition. D) somewhere between the output in monopoly and that in perfect competition outcomes. E) in all circumstances the same as the output in monopoly.
Each Federal Reserve bank has nine directors. Of these ________ are appointed by the member banks and ________ are appointed by the Board of Governors
A) three; six B) four; five C) five; four D) six; three
Ways to "game" the budgeting process include
a. delaying sales if just short of a target b. delaying expenses if just short of a target c. accelerating sales once a target is met d. delaying expenses costs once a target is met
A mistake is a choice that:
A. the chooser later regrets. B. the choice architect creates that has unintended consequences. C. society as a whole, but not necessarily the chooser, is left worse-off once it's made. D. policymakers think choosers should not make.