People tend to spend more money the ______ the amount of credit available and the ____ the stock of liquid assets in the hands of consumers.
A. higher; higher
B. lower; lower
C. higher; lower
D. lower; higher
A. higher; higher
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Stock owners have a claim to the assets and earnings of the corporation and are liable for all of the corporation's debts
Indicate whether the statement is true or false
Figure 3-17
Refer to . When the price is P1, consumer surplus is
a.
A.
b.
A + B.
c.
A + B + C.
d.
A + B + D.
Figure 4-7
Refer to . Which of the following is true for the tax illustrated?
a.
The tax increases the price of gasoline by $.60.
b.
Since the demand for gasoline is more inelastic than the supply, consumers bear most of the burden of the tax.
c.
Since the demand for gasoline is more elastic than the supply, consumers bear most of the burden of the tax.
d.
Since the supply of gasoline is highly inelastic, the primary burden of the tax is imposed on the suppliers of gasoline.
The federal budget is prepared and passed by
A. the president. B. Congress. C. the president and Congress. D. neither the president nor Congress.