Which of the following would be a deadweight loss from a tariff?
A) The shift of consumer surplus to government
B) The increase in producer surplus
C) The decrease in consumer surplus
D) The decrease in consumer surplus due to a drop in consumption
E) All of the above.
D
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Which of the following causes a leftward shift in the short-run aggregate supply curve? a. An increase of goods prices while nominal incomes are unchanged
b. An increase in nominal incomes. c. An increase of full-employment real GDP. d. An increase of personal consumption expenditures while the price level is unchanged. e. An increase of personal consumption expenditures while full-employment real GDP is unchanged.
Which of the following statements is false?
A) Capital consists of produced goods that can be used as inputs for further production. B) The terms resources, inputs, and factors of production are synonyms. C) Labor consists of the physical, but not mental, talents of people who contribute to the production process. D) Entrepreneurship is one of the four categories of resources. E) The resource category land includes natural resources, such as minerals, forests, water, and unimproved land.