Which of the following would cause the price elasticity of demand for a variable input to be greater?
A) the smaller the price elasticity of demand for the final product
B) the longer the time period being considered
C) the smaller the proportion of total costs accounted for by the variable input
D) The harder it is for a variable input to be substituted for by other inputs.
B
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Refer to Table 20.2. Is the tax system represented in the table progressive, regressive, or neither one? How can you tell?
What will be an ideal response?
If the residents of a country receive income from their foreign investments, it is counted as a
A) credit in the current account. B) debit in the current account. C) credit in the capital account. D) debit in the capital account. E) debit in either the capital or current account, depending on the type of investment income.