Data from the registrar's office at Gigantic State University indicate that over the past 20 years tuition and enrollment have both increased. From this information we can conclude that:
A. GSU's supply curve of education is downsloping.
B. the supply of education provided by GSU has also increased over the 20-year period.
C. school-age population, incomes, and preferences for education have changed over the 20-year period.
D. higher education is an exception to the law of demand.
Answer: C
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Suppose an excise tax of $0.75 is imposed on every pack of cigarettes sold and sellers are responsible for paying this tax. How would the imposition of the tax be illustrated in a graph?
A) The supply curve for cigarettes would shift to the left by more than $0.75. B) The supply curve for cigarettes would shift to the right by $0.75. C) The supply curve for cigarettes would shift to the left by $0.75. D) The supply curve for cigarettes would shift to the left by less than $0.75.
In-kind transfer payments are _____
a. efficient b. popular with recipients c. paternalistic d. a and b