If supply increases, then:
A. price will increase.
B. the quantity demanded will decrease.
C. the quantity demanded will increase.
D. demand will increase.
Answer: C
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Of the three primary tax sources of revenue for the U.S. federal government, which of the following has trended upward as a percentage of GDP since 1962?
A) corporate income taxes B) social insurance taxes C) sales and excise taxes D) individual income taxes
The United States' official measure of poverty is measured by
A. only cash income. B. cash income and capital gains. C. only in-kind income. D. the imputed value of rent payments.
When the government redistributes income from the wealthy to the poor,
a. efficiency is improved, but equality is not. b. both wealthy people and poor people benefit directly. c. people work less and produce fewer goods and services. d. the government collects more revenue in total.
In this consumer and producer surplus graph, what happens at equilibrium (E)?
a. MB = MC
b. MB < MC
c. MB > MC
d. MB + MC = 0