Suppose an excise tax of 0.75 is imposed on every pack of cigarettes sold and sellers are responsible for paying this tax. How would the imposition of the tax be illustrated in a graph?
A) The supply curve for cigarettes would shift to the left by more than 0.75.
B) The supply curve for cigarettes would shift to the right by 0.75.
C) The supply curve for cigarettes would shift to the left by 0.75.
D) The supply curve for cigarettes would shift to the left by less than 0.75.
Question 2
Which of the following is most likely to be able to sustain economic growth in an economy?
A) increases in capital per hour worked
B) technological change
C) sustained increases in the labor force participation rate
D) accumulations of economic resources
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