If demand is more elastic, the portion of an excise tax borne by a buyer will
a. increase.
b. decrease.
c. be unchanged.
d. increase for normal goods, decrease for inferior goods.
b
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The capacity utilization rate is the ratio of ________ to ________
A) production; capacity B) capacity; production C) capacity; potential GDP D) none of the above
Several writers have helped to popularize the notion that stock prices follow no discernible pattern. What is meant by a random walk, and how can you explain why people continue to invest in stocks if the random walk theory is correct?
What will be an ideal response?
The _____________ indicates the least costly way of producing each output level when all inputs can be varied.
Fill in the blank(s) with the appropriate word(s).
The demand for Canadian cheese by a U.S. store is also a
A) demand for Canadian dollars. B) demand for SDRs. C) supply of U.S. dollars. D) supply of Canadian dollars.