A tariff is a tax on

If there is a rise in the price level, there is a(n) ________ movement along the AS curve because there is ________ in the quantity of real GDP supplied

A) upward; a decrease B) downward; an increase C) upward; no change D) upward; an increase E) downward; a decrease

Price elasticity of demand depends on all of the following except:

A. the amount of time a consumer has to adjust to price changes. B. the sensitivity of firms' output to changes in the product's price. C. the consumer's income. D. the availability and closeness of substitutes.