When a unit tax is placed on suppliers they are generally able to _____
a. lobby to get the tax repealed
b. shift the tax payment to the demanders
c. shift part of the tax burden to the demanders in the form of a secondary tax
d. shift part of the tax burden to the demanders in the form of a higher price
d
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Automatic stabilizers were clearly in evidence during the recession of 2007-2009 as
A) tax revenues and transfer payments both decreased. B) tax revenues decreased. C) tax revenues increased. D) transfer payments decreased.
Look at the following data: durable goods = $200 billion; nondurable goods = $350 billion; services = $600 billion; fixed investment + inventory investment = $200 billion; government purchases = $400 billion; exports = $30 billion; imports = $79 billion. GDP is equal to
A) $1,701 billion. B) $1,201 billion. C) $1,859 billion. D) $1,010 billion. E) There is not enough information to answer the question.
The International Water Management Institute estimates that clean water could be provided to everyone on earth for an outlay of $______ a year beyond current spending on water projects.
Fill in the blank(s) with the appropriate word(s).
What do neoclassical economics and behavioral economics believe about giving people options?
A. Both believe that people make better decisions when they are given a greater set of options. B. Behavioral economics focuses on providing more options; neoclassical economics focuses on helping people make more rational decisions with the options available. C. Neoclassical economics focuses on providing more options; behavioral economics focuses on helping people make better decisions with the options available. D. Both believe that people are better off with fewer options, allowing them to spend more time calculating the benefits and costs of each available option.