The short-run effect from a decrease in the lump-sum tax rate shifts the AE curve ________ and the AD curve _______.
A) downward; rightward B) downward; leftward
C) upward; rightward D) upward; leftward
C) upward; rightward
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The supply curve of a public good shows
A) the marginal cost of producing each unit of the good. B) the total quantities that all producers are willing and able to supply at each price. C) the maximum amount suppliers require to produce each quantity of the good. D) the total cost of producing each unit of the good.
The tax on gasoline causes deadweight losses, as is the case with all taxes
a. True b. False Indicate whether the statement is true or false
The United States imports heavily in all of the following markets except
A. Coffee. B. Aluminum. C. Chromium. D. Aircraft.
From an economist's perspective, which is not considered to be an investment?
a. Construction of a new factory b. The building of an apartment complex c. Additions to inventories at steel plants d. Purchase of shares of company stock