If the elasticity of supply for a good is greater than the government expected:
a. Consumers will bear more of the burden of the tax than the government expected.
b. Producers will bear more of the burden of the tax than the government expected.
c. The tax will raise more revenue than the government expected

In the monetary small open-economy model with a flexible exchange rate, an increase in the domestic money supply increases

A) domestic output, but has no effect on the domestic price level or the nominal exchange rate. B) the domestic price level, but has no effect on domestic output or the nominal exchange rate. C) the nominal exchange rate, but has no effect on domestic output or the domestic price level. D) the domestic price level and the nominal exchange rate, but has no effect on domestic output.

If the market is unable to allocate resources then

A) there is market failure. B) there is rent-seeking. C) there are no free-riders. D) none of these choices.