Suppose penalties are imposed on both buyers and sellers of marijuana, but the cost of breaking the law to sellers is greater than that to buyers
This measure will ________ the equilibrium price of marijuana and ________ the equilibrium quantity of marijuana sold. A) lower; increase
B) raise; increase
C) raise; decrease
D) not change; will decrease
C
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Which of the following statements is true?
a. Income distribution in the United States has gotten progressively more unequal since 1929. b. The Lorenz curve indicates the degree of discrimination in an economy. c. The Lorenz curve indicates the degree of income inequality in an economy. d. The richest 5% of Americans earn approximately half of the nation's income. e. All of these.
All of these events will cause an increase (shift to the right) in the supply of real loanable funds EXCEPT:
a. An increase in the monetary base. b. A higher real risk-free interest rate. c. An increase in the nation's real income. d. All of the above shift the supply.