If the interest rate is 3 percent per year and you borrow $100 for one year, at the end of the year you must pay back
A) $97.
B) $100.
C) $103.
D) $3.
C
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________________ is the analysis of how the burden of a tax is divided between consumers and producers:
a. Resale incidence. b. Price incidence. c. Cost incidence. d. Tax incidence.
Among countries with Per Capita GDP in 2004 of less than $2,000, the opportunity cost of increased education and literacy for young workers might be measured as
A. increased investment in improved infrastructure. B. increased consumption among the educated elites. C. new palaces and more soldiers for the ruling party. D. shortages of food or health care for the poor.
The closer the substitutes for a good, the
A) more elastic is the demand for the good. B) less elastic is the demand for the good. C) smaller the degree of substitutability between the goods. D) larger the proportion of income that is spent on the good.
How do taxes, pollution charges, and cap-and-trade work to reduce emissions?
What will be an ideal response?