One of the candidates for president this fall suggests that the answer to the oil crisis...
One of the candidates for president this fall suggests that the answer to the oil crisis is simply a tax on the producers of gasoline. All economists agree that excise taxes on producers shift the supply curve to the left. The proposal will A. raise the price of gasoline to consumers B. lower the price of gasoline to consumers C. have no impact on the price of gasoline but get the rich D. have no impact on the price of gasoline but punish producers who want to earn profits.
Homework Answers
Solution: raise the price of gasoline to consumers
Explanation: Due to excercise tax the price received by the producers would decline. The price paid by consumers, which is the price received by producers plus the tax amount, would increase
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One of the candidates for president this fall suggests that the answer to the oil crisis...
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I am writing a discussion post that must consist of 500 words. i posted what I...
I am writing a discussion post that must consist of 500 words.
i posted what I have so far as well as the discussion question. The
parenthesis are for citation. I am looking for tips on how to
expand on what i am trying to say and to see if what I already have
makes sense as a response. Any pointers or tips would be
appreciated. This is Macreconomics.
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I am writing a discussion post that must consist of 500 words.
i posted what I have so far as well as the discussion question. The
parenthesis are for citation. I am looking for tips on how to
expand on what i am trying to say and to see if what I already have
makes sense as a response. Any pointers or tips would be
appreciated. This is Macreconomics.
7:28 <Back M2D: Open Discussion M2D: Open Discussion 100 pts Discussion...
Answer the following
Suppose it is the late 1970s, and the rate of price inflation is 12 percent. The Fed chairman, Paul Volker, seeks to permanently lower the rate of inflation (say, from 12% to 8%). The short-run and long-run Phillips Curves for the U.S at this time are illustrated in the figure below. Throughout this analysis, assume consumers have adaptive expectations. PCShort-Rum PC short- PCLong-Rom Inflation rate (percent per year) 12% Expected Inflation = 12% 7% Unemployment rate (percent)...
5. If demand is elastic, will shifts in supply have a larger effect on equilibrium quantity or 6. If supply is inelastic, will shifts in demand have a larger effect on equilibrium price or on Under which circumstances does the tax burden fall entirely on consumers? İpts on price? Ipts quantity? 1pts 8. What is the relationship between price elasticity and position on the demand curve? For example, as you move up the demand curve to higher prices and lower...
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