Which is least likely to help in understanding who bears the tax incidence?
A. Supply elasticity
B. Demand elasticity
C. Who the tax is levied on
D. Whether or not supply is fixed
Answer: C
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Which of the following statements is correct?
a. In order to calculate the inflation rate for the year 2011, we need to know the values of the consumer price index for the years 2009, 2010, and 2011. b. Changes in the consumer price index are often thought to be useful in predicting changes in the producer price index. c. Despite its name, the "consumer price index" really measures the overall cost of the goods and services bought by consumers, business firms, and units of government. d. If the prices of all goods and services changed proportionately over time, then the consumer price index would reflect no substitution bias.
What are accounting, or "shadow" prices for project appraisal? In what way do they differ from market prices, and why do we need them? Additional question or part of question: How can reference to world prices help countries gauge the real
opportunity costs of development projects?
In basic terms, the current account is equal to
A) imports plus exports. B) savings minus consumption. C) exports minus imports. D) savings plus exports.
Why would a firm choose to remain in an industry in which it makes an economic profit of zero?
What will be an ideal response?