The figure above shows the market for tires. The government has imposed a tax on tires, and the sellers pay ________ of the tax
A) $10
B) $20
C) $50
D) $60
E) $30
B
Economics
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Vineyards can grow either red wine grapes or white wine grapes on their land. Which of the following would cause the supply of red wine grapes to decrease?
A) an increase in the price of white wine grapes B) a decrease in the price of white wine grapes C) an increase in the demand for red wine grapes D) an increase in the price of red wine
Economics
Why is there a need for an aggregate demand and aggregate supply model of the economy? Why can’t the supply and demand model for a single product explain developments in the economy?
What will be an ideal response?
Economics