A gasoline tax to finance highways is a fairly good example of democratic decision-making resulting in the efficient level of output
a. True b. False
a
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Tax incidence is the portion of a tax paid by a buyer or a seller
a. True b. False Indicate whether the statement is true or false
Augi sells 300 cat toys each month when the price is $5 per toy. When Augi lowered the price to $4, she sold 400 toys. The price elasticity of demand over the $4 to $5 range is approximately:
A. 0.78 and inelastic. B. 1.29 and inelastic. C. 1.29 and elastic. D. 0.78 and elastic.
Who from among the following would be counted as unemployed?
A. A person who is willing to work but has not looked for a job in two months.
B. A person with a part-time job who wants and is looking for a full-time job.
C. A person who is willing to work and has looked for a job in the last week.
D. All of these people would be counted as unemployed.
Price reductions are often used as an effective way to increase sales in monopolistic competition.
Answer the following statement true (T) or false (F)