Relating to the Economics in Practice on Page 340: Europe

question 242

Multiple Choice

Relating to the Economics in Practice on page 340: Europe has a carbon tax, and electricity producers are among the largest of the carbon producing firms. The carbon tax increases the costs of the electricity producers, which will shift the ________ curve in the electricity market to the ________.

• A) supply; right
• B) supply; left
• C) demand; right
• D) demand; left

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Definitions:

Bird

A warm-blooded vertebrate of the class Aves, characterized by feathers, beaks, the laying of hard-shelled eggs, and (in most cases) the ability to fly.

Identify

To establish or indicate who or what (someone or something) is.

Folk Theories

Informal, intuitive, and often culturally specific beliefs or explanations about the world and how it works, not necessarily based on scientific evidence.

Ambiguous Sentences

Phrases or expressions that can be interpreted in more than one way due to vague or multiple meanings of words or structure.