Considering a given increase in price due to a tax, the more price elastic the supply curve is, the:
A. larger the drop in equilibrium quantity.
B. smaller the drop in equilibrium quantity.
C. smaller the amount of deadweight loss created.
D. less surplus that is transferred to consumers.
A. larger the drop in equilibrium quantity.
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In the 20th century, tertiary employment accounted for roughly
(a) fifty percent of the total job increases. (b) ninety percent of the total job increases. (c) thirty percent of the total job increases. (d) seventy percent of the total job increases.
Padma’s country is poor and has experienced very little economic growth over the past 20 years. Based on this information, the country’s system of government during this period ______.
a. cannot be determined b. was probably unstable c. was most likely authoritarian d. was most likely democratic
A store is choosing between advertising a credit card fee or a discount for paying cash to its customers. People will care more about:
A. avoiding the fee rather than getting the discount. B. neither; since it's the same outcome, people won't care one way or another. C. getting the discount rather than avoiding the fee. D. It is impossible to say without more information.
The QWERTY keyboard is an example of a company __________________.
Fill in the blank(s) with the appropriate word(s).