If supply and demand analysis is a measure of how, then elasticity is a measure of:
A. how quickly.
B. why.
C. how much.
D. when.
Answer: C
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"If the currency drain increases, the monetary base decreases." Explain whether the previous statement is correct or incorrect
What will be an ideal response?
One result of the agriculture price supports cited in the text is that
A) sometimes surplus food is given away. B) food shortages result in most cases. C) small farms receive most of the benefits. D) none of the above.
The marginal social cost curve lies below the marginal private cost curve, with the vertical difference between the two curves representing the marginal external cost
Indicate whether the statement is true or false
Choose the statement that is correct.
A. The ability-to-pay principle can justify high fuel taxes to pay for freeways and high taxes on alcoholic beverages and tobacco products to pay for public health care. B. The ability-to-pay principle results in a tax system that is efficient and fair. C. The benefits principle is a fair arrangement because it means that those who benefit most pay the most taxes. D. The benefits principle results in a tax system that is efficient and fair.