The ratio of the burden of the tax borne by demanders to the burden of the tax borne by suppliers will be equal to_____
a. the square of the slope of the demand curve
b. the elasticity of demand times the elasticity of supply
c. the ratio of the absolute values of the slopes of the demand curve and the supply curve
d. the sum of the elasticities of the inverse demand curve and the supply curve
c
Economics
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If U.S. buyers purchased $500 billion of foreign goods and foreign buyers purchased $400 billion of U.S. goods, the U.S. balance of trade would be:
A. ?$100 billion. B. $100 billion. C. $400 billion. D. -$500 billion.
Economics
Which of the following is not a barrier to entry?
A. Legal restrictions B. Patents C. Large sunk costs D. Survivor rights
Economics