Other things being equal, when the money price of a good increases, its relative price

If taxes go up and all else remains equal, then consumption should:

a. rise by more than the tax increase. b. rise by the same amount as the tax increase. c. rise by less than the tax increase. d. fall.

From the economic point of view, profit is

A) a four-letter word. B) the same as loss. C) the result of uncertainty. D) a sign of economic injustice. E) none of the above.