The more elastic the supply of a product, the more likely it is that the burden of a tax will
a. fall on sellers.
b. fall on buyers.
c. fall equally on both buyers and sellers.
d. be borne by the public sector, and not by market participants.
B
You might also like to view...
The productive resource that includes all the "gifts of nature" is called
A) land. B) labor. C) capital. D) entrepreneurshi
If you sell a $100,000 interest-rate futures contract for 105, and the price of the Treasury securities on the expiration date is 108, your ________ is ________
A) profit; $3000 B) loss; $3000 C) profit; $8000 D) loss; $8000
During a period of price stability our money supply performs
A. all of its jobs very well. B. some of its jobs very well. C. all of its jobs very poorly. D. none of its jobs very poorly.
When health care is made available to the poor without cost, the poor consume
A. more health care services than they otherwise would. B. the same health care services that they otherwise would. C. only the health care services essential for their survival. D. fewer health care services than they otherwise would.