Principles of Macroeconomics, Ch. 6: Supply, Demand, and Government Policies
- Consider what mechanisms allocate resources when the price of a good is not allowed to bring supply and demand into equilibrium.
- Consider how to explain why economists usually oppose controls on prices.
- Consider how a tax on a goods affect the price paid by buyers, the price received by sellers, and the quantity sold.
- Consider what determines how the burden of a tax is divided between buyers and sellers.