A tax on a product will yield little revenue if
a. supply is elastic
b. supply is inelastic
c. demand is inelastic
d. demand is elastic
e. no tax in a developing country will yield significant revenue
C
Economics
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On average, collective bargaining increases wages
a. true b. false
Economics
Which of the following people is least likely to be hurt by inflation?
a. A salesperson who works on commission b. A retired couple living on a pension c. An individual who enters into a fixed-wage contract for the next three years d. An individual who agrees to lend money at a fixed rate of interest for the next three years e. An individual working at the minimum wage which seldom changes
Economics