The more inelastic the demand for a product, the larger the share of the tax that will be paid by consumers
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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_______________ —a term referring to the government practice of enacting laws to regulate prices instead of letting market forces determine prices.
a. Price ceiling b. Price floor c. Price control d. Subsidies
Economics
Nominal GDP measures the ________ of production.
A. current dollar value B. base year value C. change in the volume D. physical volume
Economics
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.
Economics
In 2001, Greece had a per-capita GDP ________ percent lower than Netherlands' per-capita GDP.
A. 20 B. 40 C. 30 D. 50
Economics