The wedge between the buyers' price and the sellers' price is the same, regardless of whether the tax is levied on buyers or sellers
a. True
b. False
Indicate whether the statement is true or false
True
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A permanent increase in a country's money supply
A) causes a more than proportional increase in its price level. B) causes a less than proportional increase in its price level. C) causes a proportional increase in its price level. D) leaves its price level constant in long-run equilibrium. E) causes an inversely proportional fall in its price level.
Under the VER of the 1980s, U.S. automakers:
a. continued their downward slide. b. could not recover because they were also faced with other issues, such as labor unrest, increased oil and steel prices, and higher taxes. c. were able to raise prices and improve quality to get even higher prices. d. were able, with the quota, to ignore world market conditions.
One advantage of using checks over a debit card is:
A. the bank is responsible if someone steals your checks and uses them; this isn't the case with debit cards. B. the person has "float," meaning time between writing the check and depositing funds to cover it. C. a cancelled paper check is the only generally accepted proof of payment. D. checks can be replaced if lost or stolen, a debit card cannot.
Compared to the perfectly competitive firm, the monopolist's input demand curve is
A) more elastic. B) more inelastic. C) due to a constant per-unit price of the product. D) marginal factor cost.