The government proposes a tax on red roses in order to boost their tax revenue. Consumers will bear no part of the tax burden if the:
a. demand for roses is perfectly inelastic.
b. supply of roses is perfectly elastic
c. demand for roses is perfectly elastic.
d. demand for roses is unit elastic.
c
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Two years ago, the GDP deflator for Old York was 300, and today it is 330.75. Based on this information the annual average inflation rate for the two years was
A) 5%. B) 5.125%. C) 10%. D) 10.25%.
Which of the following statements regarding gender differences in international labor markets is true?
A. Men and women are typically employed at the same rate in developed countries. B. The difference in male and female wages in the United States is about the average of other developed countries. C. There is no discernable wage gap between men and women in most developed countries. D. The difference in male and female wages in the United States is less than in almost any other developed country. E. There is a sizeable wage gap between men and women in most developed countries.
What are the effects of an increase in the population on potential GDP, the quantity of labor, the real wage rate, and potential GDP per hour of labor?
What will be an ideal response?
Which of the following will decrease aggregate demand?
a. exports rising faster than imports b. exports falling faster than imports c. exports rising the same amount as imports d. exports rising and imports falling