If an excise tax is imposed on restaurant meals,
a. fewer meals will be produced and sold
b. more meals will be produced and sold
c. the government's tax revenue will fall
d. the market price of meals will decrease
e. restaurants will sell more meals, but at a lower price per meal
A
Economics
You might also like to view...
An increase in aggregate demand due to higher foreign income will cause:
a. domestic equilibrium GDP to increase. b. domestic equilibrium GDP to decrease. c. domestic prices to fall. d. foreign prices to fall. e. foreign equilibrium GDP to fall.
Economics
The irrelevance of monetary changes for real variables is called monetary neutrality. Most economists accept monetary neutrality as a good description of the economy in the long run, but not the short run
a. True b. False Indicate whether the statement is true or false
Economics