The burden that results from a tax on yachts falls more heavily on the buyers of yachts than on the sellers of yachts
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 4.5. If you know that at least 8 students will choose Solid, you should choose
A) Solid. B) Dash. C) either Solid or Dash, as your payout will be the same either way. D) You need to know what the 9th student will choose before you will know your best choice.
Refer to Table 12-1. The firm will not produce in the short run if the output price falls below
A) $8. B) $4. C) $3.20. D) $2.80.
If a monopolistically competitive firm raises its price, it
a. loses all of its customers (sales drop to zero) b. loses some, but not all, of its customers c. loses very few customers d. loses no customers at all e. gains customers (sales increase)
Most money in the US is created when
a. commercial banks make more loans b. commercial banks increase their liabilities c. the US Mint prints more US currency d. Investment banks increase their number of IPOs