Buyers of a good bear the larger share of the tax burden when the (i) supply is more elastic than the demand for the product. (ii) demand in more elastic than the supply for the product. (iii) tax is placed on the sellers of the product. (iv) tax is placed on the buyers of the product
a. (i) only
b. (ii) only
c. (i) and (iii) only
d. (i) and (iv) only
a
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Which statement is true?
A. On the production possibilities frontier, 85 percent of capital is employed. B. If we moved closer to the origin and further away from the production possibilities frontier, unemployment would increase. C. To have economic growth, we must push the production possibilities frontier outward. D. All of the statements are true.
Describe the tradeoffs involved when thinking about setting the time over which a patent grants an innovator exclusive monopoly rights.
What will be an ideal response?
The price of a Treasury bond futures contract is set
A) by the federal government. B) by the Chicago Board of Trade. C) by the Federal Reserve. D) as a result of bidding and offering by market participants.
According to current Justice Department guidelines, mergers in an industry are seldom challenged if the industry
a. would have a postmerger Herfindahl index greater than 1,800 b. would have a postmerger Herfindahl index less than 1,000 c. has a premerger Herfindahl index greater than 1,800 d. has a premerger Herfindahl index less than 1,000 e. has a premerger Herfindahl index equal to 10,000