According to classical economists,
a. money was a "veil" that determined the nominal values in which such variables as the level of economic activity were measured.
b. money can have a temporary impact on output.
c. it is the nominal interest rates that matters in decisions to save and invest.
d. Both a and b
e. Both a and c
A
Economics
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Total cost is equal to what?
a. Implicit Costs b. Opportunity Costs c. Fixed Costs + Variable Costs d. Implicit Costs + Fixed Costs
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The amount by which the burden of a tax exceeds the total revenue collected is called
A. undue burden. B. tax incidence. C. excess burden. D. neutrality.
Economics