Consumers face a higher tax burden when demand is more elastic, other things constant
a. True
b. False
Indicate whether the statement is true or false
False
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The Fed sells $300 million U.S. government securities to commercial banks. This action leads to ________ in Fed assets and ________ in Fed liabilities
A) a $300 million increase; a $300 million increase B) a $300 million increase; a $300 million decrease C) no change; no change D) a $300 million decrease; a $300 million decrease in E) a $300 million decrease; a $300 million increase
Why does inflation make nominal GDP a poor measure of the increase in total production from one year to the next?
What will be an ideal response?
The "minimum efficient scale" of operation in an industry is defined as the scale of operation in an industry that is least efficient
Indicate whether the statement is true or false
The European subjugation or displacement of Native Americans from their lands
(a) was justified largely on the grounds that "might makes right." (b) was justified largely on the grounds of the "divine right of kings." (c) derived from the Christian belief of a right of conquest over non-Christian people. (d) was none of the above.