Inward-oriented development strategies focus on exports of goods and services

Because of recent corporate downsizing, Chuck loses his job. The most likely effect on his consumption function is a(n)

a. movement downward along the function. b. shift upward of the function. c. shift downward of the function. d. increase in consumption expenditures.

A tax on sellers has what effect on a market?

A. Supply shifts vertically upward by the amount of the tax. B. Demand shifts vertically downward by the amount of the tax. C. Equilibrium price decreases and equilibrium quantity decreases. D. Equilibrium price decreases and equilibrium quantity increases.