Other things being equal, the less elastic demand is:
a. the lower the deadweight loss is resulting from the imposition of a given tax on a product.
b. the greater the burden is of the tax borne by consumers

People who are willing and able to work but are not looking for work because they have been discouraged by their previous futile efforts are called

A) unemployed workers. B) discouraged workers. C) unhappy workers. D) involuntarily unemployed. E) part-time lookers.

Economies of scale exist when the ________ a unit of a good ________

A) average cost of producing; falls as its output rate increases B) price; falls as its input rate decreases C) price; rises as its output rate increases D) average cost of producing; rises as its input rate increases