If the demand curve is more elastic than the supply curve, then:
A. the buyers will bear a greater tax incidence than sellers.
B. the sellers will bear a greater tax incidence than buyers.
C. tax incidence will be shared equally by buyer and seller.
D. None of these is true.
B. the sellers will bear a greater tax incidence than buyers.
You might also like to view...
If the price level rises but the money wage rate does not, then firms will hire ________ labor and the quantity of real GDP supplied will ________
A) more; increase B) the same amount of; not change C) less; decrease D) more; not change E) less; increase
At Revolution Doughnuts in Fort Collins, Colorado, a cup of coffee or a doughnut is $1. Suppose Hannah loves going to Revolution Doughnuts and usually buys 2 doughnuts and 1 cup of coffee
On the way to the shop, Hannah finds an extra $2 dollars in change in her car and buys an extra doughnut and cup of coffee. This means A) doughnuts are an inferior good and coffee is a normal good for Hannah. B) doughnuts are a normal good and coffee is an inferior good for Hannah. C) doughnuts and coffee are normal goods for Hannah. D) doughnuts and coffee are inferior goods for Hannah.
By December 2008, the federal funds rate was approaching the zero lower bound
a. True b. False
Where would you plot unemployment on a production possibilities frontier?
What will be an ideal response?