If There Is an Excise Tax Collected by Suppliers of a Particular

question 53

Multiple Choice

If there is an excise tax collected by suppliers of a particular product, when we draw the graph of supply and demand we would normally represent the excise tax by:

• A)a horizontal shift of the supply curve to the left by the amount of the excise tax.
• B)a horizontal shift of the supply curve to the right by the amount of the excise tax.
• C)a vertical shift up of the demand curve by the amount of the excise tax.
• D)a vertical shift up of the supply curve by the amount of the excise tax.

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Definitions:

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The total number of people available for work in a specific job market, including those currently employed and those seeking employment.

Linear Programming

A mathematical technique used for allocation of resources optimally, often applied in optimizing production processes, logistics, and other operational areas.

Delphi Technique

A forecasting method that involves gathering the opinions of experts through multiple rounds of questionnaires to reach consensus on future events or decisions.

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