Which of the following leads to the suppliers paying all of a tax?
A) The supply is perfectly elastic.
B) The supply is perfectly inelastic.
C) The demand is unit elastic.
D) The demand is perfectly inelastic.
B
Economics
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Suppose at present people hold a quantity of money equal to 85% of nominal GDP. What happens to velocity if people wish to increase their money holdings to 80% of nominal GDP?
A) Velocity can increase or decrease depending on people's tastes and preferences toward money. B) Velocity is unaffected. C) Velocity increases. D) Velocity decreases.
Economics
What would be the profits for Irene's Dairy in equilibrium?
a. 5 million loss b. 5 million c. 10 million d. 20 million
Economics