A(n) ________ is a tax on imports that is stipulated as a money amount per unit.

If the percentage change in the price of a good exceeds the percentage change in the quantity supplied, then the supply is

A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.

In the quantity equation framework for understanding the determinants of long-run inflation, a depreciation of the exchange rate ________ velocity, putting ________ pressure on inflation

A) raises, upward B) raises, downward C) lowers, upward D) lowers, downward