The sellers pay the entire sales tax levied on a good when demand is perfectly ________ or supply is perfectly ________
A) elastic; inelastic
B) elastic; elastic
C) inelastic; inelastic
D) inelastic; elastic
A
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Suppose there are 10 million part-time workers and 90 million full-time workers in an economy. Five million of the part-time workers switch to full-time work. As a result, the
A. official unemployment rate will fall. B. size of the labor force will increase. C. official unemployment rate will rise. D. official unemployment rate will remain unchanged.
The silly clothes worn by a circus clown are an example of:
a. a natural resource. b. capital goods. c. labor. d. entrepreneurship.
The most important determinant of the level of consumption is
A. credit availability. B. the level of disposable income. C. the stock of liquid assets in the hands of consumers. D. consumer expectations.
A move from F to G represents
A. an increase in quantity demanded.
B. a decrease in quantity demanded.
C. an increase in demand.
D. a decrease in demand.