The current account shows international transactions in goods and services, the capital account shows international transactions involving the flow of financial assets, and the official reserve transactions account shows movement of international reserves

Which of the following is an assumption made about a competitive labor market?

a. A firm must offer a higher wage rate to attract more labor. b. A firm must offer a lower wage rate to attract more labor. c. A firm cannot influence the market wage rate. d. The labor supply curve facing each firm is inelastic. e. Workers compete for jobs and firms pay a variety of wage rates.

An increase in the excise tax imposed upon consumers of gasoline

A. increases the supply of gasoline. B. decreases the demand for gasoline. C. increases the demand for gasoline. D. lowers the market price of gasoline.