The tax incidence on sellers is higher if ________
A) the buyers and sellers of a good are equally sensitive to price changes
B) the buyers are more sensitive to price changes than the sellers
C) the sellers are more sensitive to price changes than the buyers
D) the number of buyers in a market is larger than the number of sellers
B
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An increase in real GDP can shift
A) money demand to the left and increase the equilibrium interest rate. B) money demand to the right and increase the equilibrium interest rate. C) money demand to the right and decrease the equilibrium interest rate. D) money demand to the left and decrease the equilibrium interest rate.
Which of the following is TRUE?
A) A country experiencing a debt or currency crisis would contact the World Trade Organization. B) The World Trade Organization was formed at the Bretton Woods conference. C) The General Agreement on Tariffs and Trade created the World Trade Organization in the negotiations and treaty known as the Uruguay Round. D) The World Trade Organization has no power to resolve trade disputes and to enforce their resolution.
Private investment spending escalated during the post-World War II era (1945–50)
Indicate whether the statement is true or false
The velocity of money is:
a. the purchasing power of money. b. the value of a dollar in relation to foreign currency. c. the average number of times each dollar is spent on final goods and services in a given year. d. the average length of time it takes for a dollar of income to be spent. e. the total amount of money that is in circulation for consumption spending.