Sales tax is an example of an indirect business tax
Indicate whether the statement is true or false
True
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The classical economists believed that if the quantity of money doubled
A) output would double. B) prices would fall. C) prices would double. D) prices would remain constant.
The tendency of markets to automatically gravitate toward equilibrium is an application of the:
A. Incentive Principle. B. Principle of Comparative Advantage. C. Scarcity Principle. D. Cost-Benefit Principle.
A firm manager with vertical indifference curves (output on the horizontal axis, profit on the vertical axis) views:
A. both profits and outputs to be "goods." B. only output to be "goods." C. only profits to be "goods." D. None of the statements is correct.
If the elasticity of labor supply is negative, the labor supply curve would be
A. downward sloping. B. upward sloping. C. vertical. D. horizontal.