The excess burden of taxation will _____ when the demand curve is more elastic
a. not change
b. be higher
c. be lower
d. be zero
b
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Mark Frost grows apples in a perfectly competitive market. If we drew a line in a graph that illustrates Mark's total revenue from selling apples, it would be
A) a straight, upward-sloping line. B) a straight, downward-sloping line. C) a horizontal line. D) a curve that is negatively sloped at low levels of output and positively sloped at higher levels of output.
The Coase Theorem states that there is different ways to assign property rights if the private sector is to achieve environmental efficiency
a. True b. False Indicate whether the statement is true or false
Which of the following would be part of the Thai demand for U.S. dollars?
a. A Thai street seller trying to sell a shirt to an American tourist b. A Thai bank selling dollars it possesses in exchange for euros c. An American exchanging dollars for Thai bahts that she will spend on her next vacation to Bangkok d. A Thai export company selling its products in the American markets e. A Thai importer who wants to buy a Caterpillar tractor
Which of the following claims concerning the importance of effects that explain the slope of the U.S. aggregate-demand curve is correct?
a. The exchange-rate effect is relatively small because exports and imports are a small part of real GDP. b. The interest-rate effect is relatively small because investment spending is not very responsive to interest rate changes. c. The wealth effect is relatively large because money holdings are a significant portion of most households' wealth. d. None of the above is correct.