Other things being equal, the more elastic demand is:
a. the lower the deadweight loss is resulting from the imposition of a particular tax on a product.
b. the greater the deadweight loss is resulting from the imposition of a particular tax on a product.
c. the greater the fraction is of the burden of the tax borne by consumers
d. the greater the tax revenue collected by the government is.
b
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If Marginal cost is lower than Average Cost (AC), average cost is
a. falling b. rising c. constant d. none of the above
The person credited with Chinese reforms
a. Deng b. Mao c. Zhou d. Chaing e. Miller
If leakages are less than injections, ceteris paribus:
(a) National income will increase. (b) National income will decrease. (c) National income will stay in equilibrium. (d) None of the above.
Which of the following two statements is true of the graph shown below?Statement 1: The graph leads to a supply of labor curve that is positively sloped throughout.Statement 2: The opportunity cost of leisure is lower at point A than at point D. 
A. Statement 1 B. Statement 2 C. Both statements are true D. None of the statements is true