For a given supply curve, the more inelastic the demand for a good,
a. the more of an excise tax that is paid by sellers.
b. the less an excise tax is shifted.
c. the smaller the burden of an excise tax.
d. the more of an excise tax that is paid by buyers.
e. the smaller the increase in market price following imposition of an excise tax
D
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The gravity equation uses a calculation to predict the level of bilateral trade based directly on ____ and inversely on _____.
a. wages; technology b. size of the countries' GDP; the geographic distance between the countries c. the percent of the countries' GDP in manufacturing; their level of tariffs d. the growth rates of the countries' GDP; their openness to trade
A special-interest issue is one that
a. allocates the cost of the activity in accordance with the benefits received. b. benefits a small, well-organized interest group at the expense of taxpayers or consumers. c. benefits everyone and imposes a cost on everyone. d. benefits a small, well-organized interest group but makes that group pay for the cost of the program.