The burden of a tax per unit of output will fall heavily on consumers when demand is relatively ________ and supply is relatively ________
A) inelastic; elastic
B) inelastic; inelastic
C) elastic; elastic
D) elastic; inelastic
A
You might also like to view...
The food-stamp program is designed to:
A. increase the supply of farm products. B. decrease the supply of farm products. C. increase the demand for farm products. D. decrease the demand for farm products.
Which one of the following is a durable consumer good?
A. gasoline B. office supplies that will be used up this year C. a tablet device D. food
Automobile workers in Detroit who are unemployed because of foreign imports at the same time that job vacancies exist for coal miners in West Virginia would most likely be classified as
A. Seasonally unemployed. B. Frictionally unemployed. C. Structurally unemployed. D. Cyclically unemployed.
Refer to the data. If year 2 is chosen as the base year, the price index for year 1 is:
Assume an economy that is producing only one product. Output and price data for a three- year period are as follows. Answer the question on the basis of these data.
A. 80.
B. 100.
C. 120.
D. 20.