Price elasticity of demand is the sole determinant of profit for a firm
a. True
b. False
Indicate whether the statement is true or false
False
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An increase in the quantity of money ________ aggregate demand and ________
A) increases; shifts the aggregate demand curve rightward B) increases; shifts the aggregate demand curve leftward C) decreases; shifts the aggregate demand curve leftward D) increases; rotates the aggregate demand curve so it is steeper E) decreases; shifts the aggregate demand curve rightward
Most new settlement in the West came from homesteads
Indicate whether the statement is true or false
Tax incidence most accurately refers to
A. The taxes paid divided by taxable income. B. Those from whom a tax is collected. C. The relative tax burdens of state and local governments. D. The distribution of the real burden of a tax.
Points that lie inside (or below) the PPF are
A) unattainable. B) attainable and productive efficient. C) attainable but productive inefficient. D) attainable and neither productive efficient nor productive inefficient.