The consumer will pay for ______ of the tax and the seller will pay for ______ of the tax.
A. some; some
B. most; a little
C. all; none
D. none; all
C. all; none
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The real interest rate is ________ related to the supply of loanable funds because ________
A) negatively; the opportunity cost of consumption expenditure increases as the real interest rate rises B) negatively; people are motivated to save more as the real interest rate rises C) positively; people are motivated to increase their consumption expenditure as the real interest rate rises D) positively; the opportunity cost of consumption expenditure increases as the real interest rate rises E) None of the above answers is correct.
If the two goods in an Edgeworth Box are perfect complements for both people, all efficient allocations will have each person getting the same amount of good 1 as of good 2.
Answer the following statement true (T) or false (F)
The rate at which two countries trade one good for another
a. is known as the foreign exchange rate b. is known as the terms of trade c. is known as the export line d. equals the slope of the import line e. equals the common slope of the countries' production possibilities frontiers
A firm that attempts to pass along the cost of higher union wages to consumers in the form of higher prices will be more successful if the price elasticity of demand for its product is
A. Elastic. B. Unitary. C. Inelastic. D. Perfectly elastic.