Suppose cars are taxed according to the amount of pollution they emit per gallon of gasoline consumed. We would expect to observe all of the following EXCEPT
A) an increase in quantity demanded of less-polluting automobiles and a reduction in quantity demanded of more-polluting automobiles.
B) an increase in quantity demanded of more fuel-efficient cars.
C) an increase in production of automobiles that were less polluting.
D) an increase in the miles driven.
D
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For a linear demand curve that is downward sloping, the marginal revenue curve
A) will be to the left of the demand curve and twice as steep. B) will be to the right of the demand curve and twice as steep. C) will be to the left of the demand curve and half as steep. D) will be the same as the demand curve.
The long-run growth of an economy depends on productive resources (land, labor, and capital) and on technological advances
a. True b. False Indicate whether the statement is true or false