When a tax is imposed on a good, the
A: supply curve for the good always shifts.
B: demand curve for the good always shifts.
C: amount of the good that buyers are willing to buy at each price always remains unchanged.
D: equilibrium quantity of the good always decreases.
A: supply curve for the good always shifts.
B: demand curve for the good always shifts.
C: amount of the good that buyers are willing to buy at each price always remains unchanged.
D: equilibrium quantity of the good always decreases.
举一反三
- Good A and good B are substitutes in production. The demand for good A decreases, which lowers the price of good A. The decrease in the price of good A ( ) A: decreases the supply of good B: increases the supply of good C: decreases the demand for good D: increases the demand for good
- If the equilibrium price of a good decreases and the equilibrium quantity of the good decreases, we can conclude that
- According to the Law of Demand, the demand curve for a good will A: shift leftward when the price of the good increases. B: slope downward. C: shift rightward when the price of the good increases. D: slope upward.
- When the price of a good is held under the equilibrium price, the result will be A: Excess demand B: Excess supply C: A surplus of the good D: neither surplus nor shortage of the good
- When the price of a good is held above the equilibrium price, the result will be A: Excess demand B: A shortage of the good C: A surplus of the good D: A shortage of the good