Suppose that a tax is placed on books. If the sellers pay the majority of the tax, then we know that the
a. demand is more inelastic than the supply.
b. supply is more inelastic than the demand.
c. government has required that buyers remit the tax payments.
d. government has required that sellers remit the tax payments.
b
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Depression and lost self-esteem are examples of the ________ costs of unemployment, while the lost income and tax revenue are examples of the ________ costs of unemployment.
A. psychological; economic B. social; psychological C. economic; social D. economic; psychological
Trade between countries is only based on absolute advantage
Indicate whether the statement is true or false
Indifference curves
A. are horizontal. B. are vertical. C. slope upward. D. slope downward.
Discrimination ________ the group being discriminated against and ________ the group being favored
A) decreases the demand for; increases the demand for B) increases the demand for; decreases the demand for C) decreases the supply of; increases the supply of D) increases the supply of; decreases the supply of