A short run price elasticity of demand of -0.20 suggests a price flexibility of ________
Fill in the blank(s) with correct word
-5.0
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If the Fed can communicate that it will maintain a(n) ________, the long run nominal interest rate will remain ________
A) expansionary fiscal policy; low B) contractionary fiscal policy; high C) contractionary monetary policy; low D) expansionary monetary policy; low
Empirical support for the Heckscher-Ohlin model was weakest when the study applied
A) all of the assumptions of the model. B) all of the assumptions of the model except that regarding technology. C) all of the assumptions of the model except those regarding technology, goods and shipping costs. D) all of the assumptions of the model except those regarding technology, shipping costs and gravity. E) all of the assumptions of the model except those regarding shipping costs.
Refer to Figure 9.2. At price 0E and quantity Q*, the deadweight loss is
A) 0ACQ*. B) 0ECQ*. C) 0FCQ*. D) EFC. E) none of the above
The term ________ refers to how the burden of the tax is distributed across various agents in the economy
A) tax funding B) tax incidence C) tax haven D) tax discrimination