Which of the following will reduce the supply of motorcycles?
a. an increase in the population age 16 to 35, the primary consumers of motorcycles
b. an increase in taxes imposed on motorcycle producers
c. a technological improvement reducing the production costs of motorcycles
d. a government study that reveals motorcycle riders, on average, live 10 years longer than those who don't ride motorcycles
b. an increase in taxes imposed on motorcycle producers
You might also like to view...
Which of the following would be an illustration of a microeconomic issue affecting U.S. auto manufacturers?
A) An introduction of new, more fuel efficient models by Japanese competitors. B) A recession in Europe that causes U.S. auto exports to Europe to decline. C) A decline in the demand for new cars in the U.S. due to an economic downturn. D) An appreciation of the U.S. dollar relative to the Japanese yen.
Which of the following factors of production is likely to be most productive?
a. A certified doctor working in a well-equipped hospital b. A medical student working as a volunteer in a rural health clinic c. A trained nurse without access to the latest medical technology d. A knowledgeable chemist without a degree in medical sciences e. A specialist doctor working in a hospital with poor infrastructure
The Fed:
a. has little control over the money supply. b. serves as the central bank for the United States. c. often uses a mix of lower taxes in its fiscal policy. d. ensures commercial bank profitability.
The term laissez faire can be translated
a. "leave it alone" b. "make it equitable (fair)" c. "take an active role" d. "markets work" e. "free of problems"