For a good with many substitutes, _____
a. buyers pay less of the tax than the sellers
b. demand is relatively inelastic
c. supply is unit elastic
d. sellers pay less of the tax than the buyers
a
Economics
You might also like to view...
Which of the following occurs when investment is crowded out by government spending?
A) interest rates fall B) the amount of borrowing by the government falls C) the amount of government debt rises D) consumption increases
Economics
In the short-run, we assume that the money prices of goods and services are
A) temporarily fixed. B) permanently fixed. C) allowed to fluctuate. D) equal to long-run prices. E) fully employed.
Economics