In order to raise the most revenue, the government is better off taxing the producers of a good for which demand is elastic
Indicate whether the statement is true or false
F
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The application of new technologies to the production process will increase:
A. the quantity of human capital. B. the unemployment rate. C. average labor productivity. D. the share of the population employed.
Refer to Figure 2-5. If the economy is currently producing at point W, what is the opportunity cost of moving to point X?
A) 19 million tons of steel B) 5 million tons of paper C) 9 million tons of paper D) 3 million tons of steel
When output is below potential and the policy rate has hit the floor of zero, the resulting fall in inflation leads to ________ real interest rates, which ________ output further, which causes inflation to fall further
A) lower; increase B) higher; depress C) higher; increase D) lower; depress
Assume that a consumer has a given budget or income of $12, and that she can buy only two goods, apples or bananas. The price of an apple is $1.50 and the price of a banana is $0.75. Refer to the information given above. If the consumer spent all of her
budget on just apples or just bananas, how many apples or bananas maximum would she be able to buy? A. 12 apples or 8 bananas B. 8 apples or 12 bananas C. 16 apples or 12 bananas D. 8 apples or 16 bananas