In what way is the result of an excise tax imposed on either demanders or suppliers similar to the result of a price ceiling?
a. The amount that consumers pay for the good will be less than they previously paid
b. The amount of the good that will be traded in the market will be less than previously traded
c. both price ceilings and excise taxes create excess demand
d. The amount that consumers pay for the good will be greater than they previously paid
e. both price floors and excise taxes create excess supply
B
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At the utility maximizing equilibrium for two goods, X and Y, which of the following must be TRUE?
A) The marginal utility per dollar spent on X will exceed the marginal utility per dollar spent on Y. B) The total expenditure will be the same for each good. C) The marginal utility per dollar from X equals the marginal utility per dollar from Y. D) The marginal utility will be the same for each good.
Which of the following macroeconomic variables is acyclical?
A) Real interest rates B) Unemployment C) Money supply D) Consumption