A move from S1 to S2 is a(n)
A. an increase in quantity supplied.
B. a decrease in quantity supplied.
C. an increase in supply.
D. a decrease in supply.
C. an increase in supply.
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Explain how a Pigovian tax works
What will be an ideal response?
Putting quarters into a Las Vegas slot machine and receiving quarters out of that machine is analogous to the circular flow model because
a. the value of the resources flowing into firms is precisely the value of the goods and services flowing out of firms b. the value of the components of national income flowing into the firms is precisely the value of consumption and investment flowing out of the firms c. the absolute dollar amount of the production goods going out from the firms equals the absolute dollar amount of the consumption goods that households consume d. households gamble e. you can then substitute the casino economy for the get-rich-quick schemes that are all too prevalent in the economy today