7. problems and applications q7 congress and the president decide that the united states should reduce air pollution by reducing its use of gasoline. they impose a $0.50 tax on each gallon of gasoline sold. suppose they decided to impose the tax on consumers. in the following graph, shows the effect of a $0.50 tax on each gallon of gasoline sold imposed on consumers by shifting the demand or supply curve. demand supply 0 1 2 3 4 5 6 3.0 2.5 2.0 1.5 1.0 0.5 0 price of gasoline (dollars per gallon) quantity of gasoline (thousands of gallons) demand s 1 s 2 true or false: the price producers receive will be higher if the tax were imposed on consumers. true false if the demand for gasoline were more elastic, this tax would be effective in reducing the quantity of gasoline consumed. true or false: consumers of gasoline are by this tax. true false workers in the oil industry are by this tax.

Aland development company purchases several acres of land adjacent to a wildlife reserve. it plans to build a new community, complete with shops and schools. green sands, a local environmental group, complains that the company's proposed building methods will disrupt the area's ecological balance. the company wants to respect the local ecology but also wants to build its development. the company decides to schedule a meeting with green sands's representatives to make choices about the property that are agreeable to both sides. which strategy would be most effective in this situation?

The u. s. stock market has returned an average of about 9% per year since 1900. this return works out to a real return (i. e., adjusted for inflation) of approximately 6% per year. if you invest $100,000 and you earn 6% a year on it, how much real purchasing power will you have in 30 years?

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.