The actual incidence of a tax
a. depends on the statutory incidence.
b. is entirely random.
c. depends on the elasticities of supply and demand.
d. falls entirely on buyers or entirely on sellers.
c. depends on the elasticities of supply and demand.
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Although the subprime mortgage market problem began in the United States, the first indication of the seriousness of the crisis began in
A) Europe. B) Australia. C) China. D) South America.
If the MPC is 0.6, and the government spends an additional $50b, the overall effect on GDP will be:
A. an increase of $250b. B. a decrease of $25b. C. a decrease of $75b. D. an increase of $125b.
A monopolist maximizes profit by producing the output at which marginal revenue equals marginal cost.
Answer the following statement true (T) or false (F)
The crowding model is primarily concerned with explaining:
A. occupational discrimination. B. human-capital discrimination. C. the size of the discrimination coefficient. D. why affirmative action is reverse discrimination.