When supply is more elastic than demand, the buyer pays _____ of a tax.
A. all
B. most
C. half
D. less than half
B. most
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One thousand adults live in Milltown. Every day, they all leave work at 4:30 p.m., arrive home at exactly 5:00 p.m., and go to bed at 9:00 p.m. Three fundraisers, Alpha, Beta, and Charlie, have targeted Milltown's population. To get a donation, they must call Milltown's residents after they get home from work but before they go to bed. Because the charities raising the funds are identical, the first to call a willing donor will get the donation. Beta's manager has decided that the best time to call is 7:00 p.m. because it is exactly halfway between 5:00 p.m. and bedtime. Which of the following is true?
A. Alpha and Charlie will also make calls at 7:00 p.m. B. Beta is certain to generate the most donations. C. Alpha and Charlie will divide up the rest of the market, with one choosing to call at 6:00 p.m. and the other at 8:00 p.m. D. Beta's manager did not choose wisely.
Explain what is meant by the terms "labor force," "unemployment rate," and "labor force participation rate."
What will be an ideal response?
Which of the following would affect both short-run and long-run aggregate supply?
a. a supply shock b. menu costs c. money illusion d. technological change e. a change in the general price level
Refer to the Article Summary. In 2015, the European Union initiated the BRRD program, where the burden of bailing out troubled banks is being placed on bank creditors, shareholders, and possibly depositors
If this program were to confiscate funds from bank deposits to assist troubled banks, the possibility of a bank run, a situation in which ________, would likely increase. A) many depositors simultaneously decide to withdraw money from a bank. B) a majority of the bank's loans go into default all at once. C) a majority of the shareholders in a bank decide to sell off all their shares of stock. D) a bank stops paying interest on all of its interest-bearing accounts.