When a tax on a good is enacted,
a. buyers and sellers share the burden of the tax regardless of whether the tax is levied on buyers or on sellers.
b. buyers always bear the full burden of the tax.
c. sellers always bear the full burden of the tax.
d. sellers bear the full burden of the tax if the tax is levied on them; buyers bear the full burden of the tax if the tax is levied on them.
a
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Refer to Figure 2-2. If Vidalia chooses to produce 60 dozen orchids, how many roses can it produce to maximize production?
A) 30 dozen roses B) 50 dozen roses C) 100 dozen roses D) 150 dozen roses
The generalized least square (GLS) is an efficient procedure that weights each squared residual by the:?
A. ?conditional variance of ui given xi. B. ?expected value of ui given xi. C. ?inverse of the conditional variance of ui given xi. D. ?square root of the inverse of the conditional variance of ui given xi.
What is the real GDP in year 1 using base year 2?
A) $418. B) $300. C) $360. D) $338.
Which of the following is a game of perfect information?
A. Chess B. Poker C. Rock-Paper-Scissors D. Both chess and poker are games of perfect information.