The aggregate supply curve is found by summing up the supply curves for all the different products in the economy
a. True
b. False
B
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Consider a good whose own price elasticity of demand is -0.5 and price elasticity of supply is 1.5. The fraction of a specific tax that will be passed through to consumers is ________
A) 0 B) 0.25 C) 0.5 D) 0.75 E) 1
A dividend is the
A. corporation’s periodic payments to bondholders. B. the monthly compensation to the corporation’s board of directors. C. a payment of some of the corporation’s profits to its stockholders. D. a payment made to banks and other sources of funding for the corporation.
When the economy is operating well below capacity, an increase in spending tends to be reflected primarily in a(n):
a. lower level of employment. b. increase in price. c. lower level of output. d. higher level of output and employment. e. increase in business failures.
If a tax rate falls as a person's income rises, the tax is a:
a. proportional tax. b. progressive tax. c. regressive tax. d. poll tax. e. constant tax.