The production period in which at least one input is fixed in quantity is the

When the Federal Reserve sells a government bond to a primary dealer, reserves in the banking system ________ and the monetary base ________, everything else held constant

A) increase; increases B) increase; decreases C) decrease; increases D) decrease; decreases

Unit excise taxes imposed on gasoline, alcohol, and cigarettes are

A) largely paid by the producers because they want to maintain their level of sales. B) largely paid by consumers because they are not very responsive to price changes. C) shared equally between the producer and the consumer. D) paid by the wholesalers of these products.