The imposition of a per unit tax on a product
A) will cause the supply curve to shift downward and to the right.
B) will cause the supply curve to shift upward and to the left.
C) will reduce the quantity supplied of the product.
D) will encourage producers to increase the quantity supplied of the product.
B
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Non-activists
A) distrust the ability of the political process to formulate sensible economic policy. B) argue for a constant-growth-rate rule for the money supply. C) argue that more unemployment now may prevent a lot more unemployment in the future. D) All of the above.
The Keynesian revolution
a. was an attack on the classical supply-determined, full-employment theory of output and employment. b. attacked the quantity theory of money. c. shared with the classical model the belief that prices and wages are perfectly flexible. d. All of the above e. both a and b.