If a tax is imposed on the buyers of a product, then the tax burden will fall entirely on the buyers
a. True
b. False
Indicate whether the statement is true or false
False
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What is a Nash equilibrium?
What will be an ideal response?
The slope of an indifference curve at all points reflects
A. the terms by which the consumer can trade off goods in the market. B. the relative prices of the two goods. C. the willingness of the consumer to trade one good for another. D. consumer income relative to the price of a good. E. the relative price ratio of the two goods.
What are some criticisms of the CPI as a measure of inflation?
The transactions demand for money exists because:
a. people want to maintain a speculative cash reserve. b. people are insensitive to interest rate fluctuations and prefer to hoard money. c. people want to be prepared for unplanned emergency expenditures. d. people prefer cash over bank deposits. e. people do not receive their income at the same time they spend it.