The more ________, the larger is the amount of the tax on the good that the ________ pays
A) elastic the demand for a good; buyers
B) inelastic the demand for a good; buyers
C) inelastic the supply of a good; buyers
D) elastic the supply of a good; sellers
B
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Which of the following combinations would be on an aggregate demand curve with a spending growth rate of 6%?
What will be an ideal response?
An extremely high rate of inflation is called ________.
A. disinflation B. super inflation C. hyperinflation D. deflation
If a monopolist can engage in perfect price discrimination:
a. consumer surplus is maximized. b. it produces at the socially efficient level. c. producer surplus is minimized. d. the government may impose fines on the monopolist.
Which one of the following would cause an increase in the supply of planes?
A. an improvement in the technology used to produce planes B. an increase in the price of planes C. an increase in taxes applied to plane producers D. a decrease in the demand for planes