Which of the following is a similarity between a tax and a subsidy in a competitive market without any externalities?
a. Both result in deadweight loss
b. Both result in a decrease in demand.
c. Both result in an increase in price.
d. Both result in an increase in government revenue.
a
Economics
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A final good is one that
A) is purchased as an input in the production process. B) is purchased by its final user. C) is a natural resource used to produce a good. D) is used in the production of another good.
Economics
The McKinley Tariff of 1890 marked the beginning of the American move toward free trade
Indicate whether the statement is true or false
Economics