About how much of the tax is paid by consumers in the form of higher prices?
A. 20 cents
B. 50 cents
C. $1
D. $4.85
A. 20 cents
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Which of the following statements is TRUE?
A) investment = disposable income + consumption B) saving = personal income + consumption C) saving = personal income - consumption D) saving = disposable income - consumption
A supply curve generally
a. is a straight horizontal line. b. is a straight vertical line. c. slopes downward to the right. d. slopes upward to the right.
To test their theories, economists usually have to
A) set up careful laboratory experiments with all variables controlled. B) first examine theory and what has happened in the past in the real world. C) use only models that have a proven record of success. D) anticipate every factor with 100 percent accuracy.
The band Coldplay's funding of 10,000 mango trees in India to help sop up emissions related to the release of their CD, A Rush of Blood to the Head, is an example of fixed-production technology
a. True b. False