Consider a market with a downward sloping demand curve and an upward sloping supply curve. A $50 tax levied on the producer of the good will cause the market price to:
举一反三
- Consider a market with a downward sloping demand curve and an upward sloping supply curve. A $50 tax levied on the producer of the good will cause the market price to: A: increase by $50 B: decrease by $50. C: increase by less than $50. D: increase by more than $50.
- The bond demand curve is ________ sloping, indicating a(n) ________ relationship between the price and quantity demanded of bonds, everything else equal.
- If the market price of a good is above the equilibrium price ______ A: a surplus will exist, which will put downward pressure on the prices. B: the supply curve will shift to the right as firms rush to take advantage of the high price. C: the demand curve will shift to the left as consumers decrease the quantity they buy. D: the government will intervene to force the price downward. E: a shortage will exist, which will force the price even higher.
- The market supply curve is:
- A movement upward along an upward sloping Engel curve corresponds to A: upward sloping indifference curves. B: crossing indifference curves. C: a rotation in the budget constraint. D: a parallel shift in the budget constraint.