The tax incidence of a specific tax or ad valorem tax is influenced by
A) who pays the tax.
B) the amount of the tax.
C) the price elasticities of supply and demand.
D) All of the above.
C
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Why does each of these gas stations have so little control over the price of the gasoline they sell?
What will be an ideal response?
The immediate (two-day) exchange of one currency for another is a
A) forward transaction. B) spot transaction. C) money transaction. D) exchange transaction.
The absolute value of the slope of an indifference curve is called the:
a. marginal rate of transformation. b. transitivity slope. c. indifference rate of preference. d. marginal rate of substitution.
Suppose private saving in a closed economy is $12b and investment is $10b
a. National saving must equal $12b. b. Public saving must equal $2b. c. The government budget surplus must equal $2b. d. The government budget deficit must equal $2b.