Suppose the supply curve and the demand curve both have unitary elasticity at all prices. The price increase to consumers resulting from a specific tax of $1 imposed on sellers will be
A) $1.
B) 50 cents.
C) zero.
D) impossible to calculate without knowing the slope of the supply curve.
B
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Refer to the figure above. What is the maximum profit that the firm can make?
A) $30 B) $60 C) $90 D) $180
Services can be thought of as
A) unvalued goods. B) unwanted goods. C) free goods. D) intangible goods.
Refer to the information provided in Figure 28.2 below to answer the question(s) that follow.
Figure 28.2Refer to Figure 28.2. Assume that the productivity of workers increases as the wage rate increases. The efficiency wage
A. would equal $10. B. could either be above or below $10. C. would be above $10. D. would be below $10.
The ________ the desired reserve ratio, the ________ the ________ in the quantity of money created from an initial increase of $100,000 in the monetary base
A) smaller; larger; decrease B) larger; larger; decrease C) larger; smaller; decrease D) smaller; larger; increase E) larger; larger; increase