For any given tax, the revenue generated is:
A. larger in markets with price-elastic demand and supply.
B. the same regardless of price elasticity.
C. always maximized in markets with price-elastic demand and supply.
D. smaller in markets with price-elastic demand and supply.
D. smaller in markets with price-elastic demand and supply.
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What is the Laffer curve and why is it unlikely that the United States is on the "wrong" side of it?
What will be an ideal response?
Under a fixed exchange rate regime, if a country has an overvalued exchange rate, then its central bank's attempt to keep its currency from ________ will result in a ________ of international reserves
A) depreciating; gain B) depreciating; loss C) appreciating; gain D) appreciating; loss
Banks are most dominant in the financial markets of ________
A) Canada and Germany B) Germany and Japan C) Japan and the United States D) the United States and Canada
Suppose the Economics Department has a graduation party for its students but as a final test they must show they have learned something about trade. The men are given food when they walk in and the women are given drink. Suppose they have very different preferences where food and drink provide utility. For men U = F?D? . For women U=min(F,D) The contract curve in the Edgeworth box using a
representative man and woman would be a. a right angle connecting the lower left corner with the upper right corner. b. a curve (not necessarily a line) connecting the lower left corner with the upper right corner. c. a line connecting the lower left corner with the upper right corner. d. a right angle connecting the upper left corner with the lower right corner.