Innovation is the application of new technology to a production process
Indicate whether the statement is true or false
T
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If a good has a tax levied on it, sellers respond to the price that excludes the tax and not the price with the tax because
A) the tax is handed over to the state directly by buyers. B) sellers do not get to keep the tax revenue. C) the demand for the good has decreased. D) the quantity supplied of the good increases. E) demanders pay none of the tax.
Suppose a bank is exactly meeting its desired reserve ratio of 10 percent and a new deposit of $75,000 is made. Immediately after the deposit is made, the bank's excess reserves equal
A) zero. B) $7,500. C) $67,500. D) It is impossible to determine without additional information.
Indifference curves on the same indifference map can have different shapes
Indicate whether the statement is true or false
Waiters in countries where it's customary to tip waiters will tend to have lower wages than will waiters in countries where tipping is not customary.
Answer the following statement true (T) or false (F)