Tariff revenues are an important generator of revenue in less-developed countries

Wealth ________

A) may serve the monetary function of store of value B) means essentially the same as money C) differs from money in that wealth is more liquid D) is the flow that corresponds to the stock of income E) none of the above

The most important determinant of the elasticity of supply is

A) whether the good is a durable good or a nondurable good. B) the price of the good. C) the time period firms have to adjust to the new price. D) the proportion of the good in the budget of consumers.