A key issue in the presidential election of 2012 between President Obama and Mr. Romney concerned tax rates. President Obama favored increasing taxes, especially on the rich. As a result of a tax increase
A) the aggregate demand curve shifts leftward.
B) the aggregate demand curve shifts rightward.
C) the aggregate supply curve shifts leftward.
D) the aggregate supply curve shifts rightward.
A
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A $0.10 tax levied on the sellers of chocolate bars will cause the
a. supply curve for chocolate bars to shift down by $0.10. b. supply curve for chocolate bars to shift up by $0.10. c. demand curve for chocolate bars to shift down by $0.10. d. demand curve for chocolate bars to shift up by $0.10.
Consider Figure 12.5. If player A and Player B could cooperate, then:
A. A would spend 8 years in jail and B would spend 0 years in jail. B. A would spend 0 years in jail and B would spend 8 years in jail. C. A would spend 4 years in jail and B would spend 4 years in jail. D. A would spend 1 year in jail and B would spend 1 year in jail.