Given the slope of a supply curve, consumers take a relatively smaller share of a tax if their demand becomes more price elastic.
Answer the following statement true (T) or false (F)
True
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Airlines in other countries buy airplanes from Boeing because
A) it is illegal to produce airplanes in many other countries. B) Boeing's prices are less than what the airlines would pay for planes built in their own country. C) trade treaties require such purchases. D) these nations must buy something from the United States. E) None of the above answers is correct.
A movement along the aggregate production function is the result of a change in
A) the quantity of labor. B) technology. C) capital. D) interest rates.
A nation's average annual real GDP growth rate is 8%. Based on the "rule of 72," the approximate number of years that it would take for this nation's real GDP to double is
A. 18 years. B. 9 years. C. 12 years. D. 5 years.
If the growth rate of the money supply were 4% and the growth rate of the velocity of money were 2%, then which of the following could be a point on the aggregate demand curve?
A. Inflation of 3% and real growth of 3% B. Inflation of 6% and real growth of 6% C. Inflation of 4% and real growth of 4% D. Inflation of 2% and real growth of 2%