Scarcity is defined as the situation that exists when the quantity demanded for a good is greater than the quantity supplied

The slope of the planned expenditure line is

A) autonomous consumption. B) the marginal propensity to save. C) autonomous planned spending. D) the marginal propensity to consume.

Consider a good to which a per-unit tax applies. The size of the deadweight that results from the tax is smaller, the

a. less elastic is the demand for the good. b. less elastic is the supply of the good. c. smaller is the amount of the tax. d. All of the above are correct.