#25, #26, #27 QUESTION 25Which of the following best describes why the government is not able to decide whether it will be consumers or producers will pay a tax.O a. A tax on consumers will result in an increase in supplyO b. Producers will always pass the entire tax onto consumersO c. The tax corrects an externality.Q d. The tax changes the equilibrium price, so that producers and consumers share the burden of the tax.QUESTION 26"The world gasoline market is rigged. Look, we just saw a 5% decrease in the supply of oil and the price of gas shot up 50%, there is no way that canhappen if the price were determined by supply and demand." Which of the following best explains why the quotation above is wrong.O a. This can happen if simultaneously there is a decrease in the demand for gasolineO b. There are lots of taxes on oil that make the price very different for suppliers than consumersO c. A small decrease in quantity can cause a large increase in price if demand is very inelasticO d. This can happen if there is an externality in the marketQUESTION 27A good that is non-rival and non-excludable is called aO a. club goodO b.common resourceO c. public goodO d. private good

Equilibrium price and quantity are determined where market demand is equal to market supply.…

Which of the following best describes why the government is not able to decide whether it will be consumers or producers will pay a tax. O a. A tax on consumers will result in an increase in supply O b. Producers will always pass the entire tax onto consumers O c. The tax corrects an externality. O d. The tax changes the equilibrium price, so that producers and consumers share the burden of the tax.

Which of the following best describes why the government is not able to decide whether it will be consumers or producers will pay a tax. O a. A tax on consumers will result in an increase in supply O b. Producers will always pass the entire tax onto consumers O c. The tax corrects an externality. O d. The tax changes the equilibrium price, so that producers and consumers share the burden of the tax.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The Wall Street Journal’s website, www.wsj.com, reported the number of cars and light-duty trucks sold through October of 2014 and October of 2015. The top sixteen manufacturers are listed here. The sales information for all manufacturers can be accessed in a data file below. Sales data are often reported in this way to compare current sales to last year’s sales. Year-to-Date Sales Manufacturer Through October 2015 Through October 2014 General Motors Corp. 2,562,840 2,434,707 Ford Motor Company 2,178,587 2,065,612 Toyota Motor Sales USA Inc. 2,071,446 1,975,368 Chrysler 1,814,268 1,687,313 American Honda Motor Co Inc. 1,320,217 1,281,777 Nissan North America Inc. 1,238,535 1,166,389 Hyundai Motor America 638,195 607,539 Kia Motors America Inc. 526,024 489,711 Subaru of America Inc. 480,331 418,497 Volkswagen of America Inc. 294,602 301,187 Mercedes-Benz 301,915 281,728 BMW of North America Inc.…
Calculate e) and f) Thank you.
1. Key facts about economic fluctuations The graph included below approximates United States business cycles between quarter one of 1953 and quarter three of 1957. The shaded region denotes periods of six or more consecutive months of declining real gross domestic product (real GDP). REAL GDP (Billions of dollars) 2700 2600 2500 2400 2300 1953 1954 1955 1956 1957 (?)
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pls also do the graph
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3 units of tanks. 1 unit of tanks. 650 units of autos. 1,500 units of autos.
54 You are employed by the state bureau of economic development. There is a demand for a leading economic index to review past economic activity and to forecast future economic trends in the state. You decide that several key factors should be included in the index: number of new businesses started during the year, number of business failures, state income tax receipts, college enrollment, and the state sales tax receipts. Here are the data for 2000 and 2018. New businesses Business failures State income tax receipts ($ millions) College student enrollment State sales tax ($ millions) Click here for the Excel Data File 2000 1,0881 627 Leading economic indicator 191.7 242,119 Economic activity has 41.6 2018 1,162 520 162.6 290,841 The weights you assign are: new businesses 15%, business failures 10%, income tax 40%, enrollment 10% and sales tax 25%. 39.9 b. Compute the leading economic indicator for 2018. (Round your answer to 2 decimal places.) c. Interpret the indexes. (Round your…
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