While corporations bear the statutory incidence of corporate income tax, the economic incidence is likely borne by:
A. shareholders.
B. employees.
C. customers.
D. All of these likely bear some of the economic incidence.
D. All of these likely bear some of the economic incidence.
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The smaller the mpc, the ________ the income-expenditure multiplier and the ________ the effect of a change in autonomous spending on short-run equilibrium output.
A. larger; larger B. smaller; larger C. larger; smaller D. smaller; smaller
If the United States exports 6 million bushels of corn to Japan and thereby earns income with which it imports 3 million digital video recorders from Japan, the United States' terms of trade with Japan for corn and digital video recorders is 2:1.
a. true b. false
The firm's short-run supply curve begins at an output of
A. 0.
B. 40.
C. 45.
D. 50.
The economic perspective focuses largely on marginal analysis, which means analyzing:
A. Peripheral elements of a given issue or action B. The minor aspects of a given issue or decision C. The changes in the situation that would result from a given action D. Emotional and psychological facets of a given action