If the government institutes a specific tax for a good
A) the producer simply passes the entire tax on to the consumer.
B) the producer must absorb the entire tax.
C) the producer can generally only pass part of the tax onto the consumer.
D) the equilibrium price drops.
C
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Which of the following is a cause of higher birth rates in developing countries?
a. Children are viewed as a source of farm labor b. Children are viewed as economic and social security as the parents age c. Higher child mortality rates engender higher birth rates d. All the answers are correct e. None of the answers is correct
The most commonly used metric for measuring the value of a national economy is:
A. gross domestic product, or GDP. B. gross national product, or GNP. C. gross national income, or GNI. D. gross domestic income, or GDI.