Supply refers to the position of the supply curve, whereas the quantity supplied refers to the amount suppliers wish to sell
a. True
b. False
Indicate whether the statement is true or false
True
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The excess burden of the corporate income tax is
A. almost zero. B. greatest when the interest elasticity of saving is zero. C. a result of the combined distortion in the pattern of investment and a reduction in total investment. D. none of these answer options are correct.
The inflow and outflow of foreign capital does not necessarily refer to a debt that governments owe to other governments.
Select whether the statement is true or false. A. True B. False
Sam is a musician who is out of work because electronic equipment replaced live musicians. This is an example of:
a. structural unemployment. b. involuntary unemployment. c. frictional unemployment. d. cyclical unemployment.
Greater scarcity of a natural resource is indicated
a. by an increase in the price of the resource, whether the price increase is less than or greater than the rate of inflation. b. only by an increase in the price of the resource that is less than the rate of inflation. c. only by an increase in the price of the resource that is greater than the rate of inflation. d. only by an increase in the price of the resource that is caused by a decrease in supply and is greater than the rate of inflation.