If the price buyers pay doesn't change at all, the burden...
What will be an ideal response?
Falls entirely on sellers (Sellers pay the full tax)
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Keynes (1941) claimed that government spending during wartime could generate a healthy increase in the demand for output, thus raising employment levels and boosting incomes
To avoid inflation, physical rationing, monetary measures and other controls were consequently needed. Indicate whether the statement is true or false
Testing for the random receipt of treatment
A) is not possible, in general. B) entails testing the hypothesis that the coefficients on W1i, …, Wri are non-zero in a regression of Xi on W1i, …, Wr. C) is not meaningful since the LHS variable is binary. D) entails testing the hypothesis that the coefficients on W1i, …, Wri are zero in a regression of Xi on W1i, …, Wr.
A perfectly competitive firm in the short run determines its quantity supplied at various prices by using
a. the portion of its marginal cost curve rising above its average total cost curve b. the portion of its marginal cost curve rising above its average variable cost c. its average variable cost curve d. its average total cost curve e. the portion of its average variable cost curve rising above its average fixed cost curve
If all the firms producing a good in an industry have market shares that are insignificant, that is, close to zero percent of industry sales,
a. they shut down, that is, go out of business in the long run b. their output levels are close to zero as well c. they are in a perfectly competitive market d. profit is at best zero because cost must be at least greater than zero e. they should advertise