Tax incidence
a. depends on the legislated burden.
b. is entirely random.
c. depends on the elasticities of supply and demand.
d. falls entirely on buyers or entirely on sellers.
c
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The price of electricity consumption increased in a country. Since electricity is used for the production of various goods and services, this will lead to a ________, assuming all else equal
A) rightward shift of the labor demand curves of firms B) upward movement along the labor demand curves of firms C) leftward shift of the labor demand curves of firms D) downward movement along the labor demand curves of firms
In Irving Fisher's quantity theory of money, velocity was determined by
A) interest rates. B) real GDP. C) the institutions in an economy that affect individuals' transactions. D) the price level.