A tax burden falls more heavily on the side of the market that is less elastic
a. True
b. False
Indicate whether the statement is true or false
True
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If a seller's marginal cost is $25, and the price at which the good is sold is $15, the producer surplus is ________
A) -$10 B) $10 C) $15 D) $25
From the late 1930s until the early 1970s, courts tended to follow per se rules when deciding antitrust cases. According to these rules,
a. a firm's control of a large market share was considered intrinsically illegal. b. the existence of only one or two firms in an industry was not necessarily an antitrust violation. c. both market share and predatory practices must be considered in determining whether a firm had violated the law. d. the court should only intervene if the firm charged "unfair" prices.
The effectiveness lag for monetary policy is short
a. True b. False Indicate whether the statement is true or false
When the price level rises as a result of a decrease in aggregate supply, it is called cost-push inflation
a. True b. False Indicate whether the statement is true or false