If two goods are substitutes, their cross-price elasticity will be（）
A. negative
B. zero
C. positive
D. equal to the difference between the income elasticities of demand for the two goods
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If the government wants to reduce smoking, it should impose a tax on（）
A. buyers of cigarettes
B. sellers of cigarettes
C. whichever side of the market is less elastic
D. either buyers or sellers of cigarettes
A decrease in quantity demanded（）
A. results in a movement upward and to the left along a demand curve
B. results in a movement downward and to the right along a demand curve
C. shifts the demand curve to the left
D. shifts the demand curve to the right
A price ceiling is binding when it is set（）
A. above the equilibrium price, causing a shortage
B. above the equilibrium price, causing a surplus
C. below the equilibrium price, causing a shortage
D. below the equilibrium price, causing a surplus
Causes of market failure include（）
A. externalities and market power
B. market power and incorrect forecasts of consumer demand
C. xternalities and foreign competition
D. incorrect forecasts of consumer demand and foreign competition
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