Suppose the demand curve for a product is downward sloping and the supply curve is upward sloping. If a unit tax is imposed in the market for this product
A) the tax burden will be shared among the government, buyers and sellers.
B) buyers bear the entire burden of the tax.
C) the tax burden will be shared by buyers and sellers.
D) sellers bear the entire burden of the tax.
C
Economics
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The bank reserve equation is the
A) assets and liabilities of the entire banking system. B) tally sheet for sources and uses of reserves. C) M1 multiplier. D) Federal Reserve's method of determining how many government securities to purchase.
Economics
If two nations have different per capita income levels and their rates of economic growth are identical, then the absolute per capita income differential:
A. will remain constant. B. may either widen or diminish. C. will diminish. D. will widen.
Economics