If the elasticity of supply for a good is greater than the government expected:
a. Consumers will bear more of the burden of the tax than the government expected.
b. Producers will bear more of the burden of the tax than the government expected.
c. The tax will raise more revenue than the government expected
d. Both a. and c. are true.
a
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Movement of the fast-growing Asian nations through the demographic transition may have had an impact on growth rates because it
A) reduced expenditures on health care. B) reduced expenditures on pensions. C) increased savings. D) increased consumption relative to GDP. E) increased the number of retired people.
Which of the following countries fell victim to contagion during the Asian financial crisis?
A. Indonesia, Malaysia, and the Philippines B. Malaysia, South Korea, and Taiwan C. Malaysia, the Philippines, and Taiwan D. All of these countries were hurt during the crisis.
Contractionary fiscal policy involving federal spending cuts or tax increases can help to reduce the upward pressure on the _____________ level by shifting aggregate demand to the left.
a. trade b. production c. price d. employment
Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B