If the government removes a $1 tax on sellers of gasoline and imposes the same $1 tax on buyers of gasoline, then the price paid by buyers will
A. not change, and the price received by sellers will not change
B. increase, and the price received by sellers will increase.
C. increase, and the price received by sellers will not change.
D. not change, and the price received by sellers will increase
A. not change, and the price received by sellers will not change
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Which of the following statements is true?
A) An increase in potential GDP increases aggregate supply and shifts the AS curve leftward. B) A decrease in potential GDP decreases aggregate supply and shifts the AS curve leftward. C) An increase in the money wage rate shifts the AS curve rightward. D) A fall in the price level shifts the AS curve leftward. E) An increase in the money wage rate increases potential GDP.
Gross Domestic Product is an economic aggregate that represents the
a. potential output of a country. b. total product of a nation's economy. c. total income earned from all sales. d. total product that a country exports.