If the government wanted a tax to not burden producers much, it would want to tax an industry with
a. elastic supply and demand curves.
b. inelastic supply and demand curves.
c. inelastic supply and elastic demand.
d. elastic supply and inelastic demand.
d
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Due to the recession in 2008, firms decreased their profit expectations. As a result, there was a ________ shift in the ________ loanable funds curve
A) rightward; supply of B) leftward; demand for C) rightward; demand for D) rightward, supply of
When a citizens' group opposes expansion of the prison located in town, the basis of the opposition is that the larger prison will produce
a. a negative externality for the community b. a positive externality for the community c. more jobs in the community d. tax revenue for the community e. improved criminal justice options
Which of the following categories accounts for about one-third of the total spending of state and local governments?
a. Community development b. Health and sanitization c. Education d. Transportation
The classical economists
A. believed that supply creates its own demand. B. believed that any money saved will be invested. C. believed that the economy was always tending toward full employment. D. All of the statements are true of classical economists.