A nation will export a good if its
A) no-trade, domestic price is less than the world price
B) no-trade, domestic price is equal to the world price.
C) no-trade, domestic price is greater than the world price.
D) no-trade, domestic quantity is less than the world quantity.
E) no-trade, domestic quantity is greater than the world quantity.
A
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The supply of sand is perfectly inelastic and the demand curve for sand is downward sloping. Hence, if a tax on sand is imposed,
A) sand buyers pay the entire tax. B) sand sellers pay the entire tax. C) the tax is split evenly between the buyers and sellers. D) the government pays the entire tax. E) the government collects no tax revenue because the supply is perfectly inelastic.
An increase in taxes has the following impact on the budget constraint
A) a parallel move down. B) a parallel move up. C) a tilting to the left. D) a tilting to the right.
The financial burden entailed in the paying of a tax is known as the
a. incidence of the tax. b. impact of the tax. c. effect of the tax. d. shift of the tax.
According to the World Bank, almost 2 billion people are classified as being in severe poverty.
Answer the following statement true (T) or false (F)