A tax on cigarettes:
A. increases total surplus.
B. increases efficiency in the market.
C. will increase both total surplus and efficiency in the market.
D. like any tax, will always reduce surplus and efficiency in markets.
C. will increase both total surplus and efficiency in the market.
Economics
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The world is more likely to run out of gold than it is to run out of bald eagles
Indicate whether the statement is true or false
Economics
To examine how total production in an economy has changed over time, it would be better to examine
A) nominal GDP. B) real GDP. C) GDP at current prices. D) All of the above would give equal measures of production changes over time.
Economics