The term ________ refers to how the burden of the tax is distributed across various agents in the economy
A) tax funding
B) tax incidence
C) tax haven
D) tax discrimination
B
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What is the relationship between marginal cost and fixed cost?
What will be an ideal response?
A duopoly is
a. a cartel in which all members try to cheat on the cartel. b. an industry with only two sellers. c. an industry with only two buyers. d. a cartel with only two members.
One of the principal defects of using a commodity as money is that its worth as a:
A. commodity may exceed its worth as money, causing it to cease functioning as a medium of exchange. B. medium of exchange may exceed its worth as a store of value, causing it to cease being useful as money. C. medium of exchange may exceed its worth as a standard of account, causing it to cease being useful as money. D. unit of account may exceed its worth as a store of value, causing it to cease being useful as money.
The Consumer Price Index measures inflation by using
A) only consumption goods and services purchased using a current -year basket. B) only consumption goods and services purchased using a base-year basket. C) all goods and services that are produced using a base -year basket. D) all goods and services that are produced using a current-year basket. E) A and D.