In 2015, the U.S. auto industry experienced rising sales. The automobile industry was experiencing the effects of

When the supply of money is vertical, changes in money demand will not change the equilibrium quantity of money in existence

a. True b. False Indicate whether the statement is true or false

When a tax is imposed on a good for which both demand and supply are very elastic, a. sellers effectively pay the majority of the tax

b. buyers effectively pay the majority of the tax. c. the tax burden is equally divided between buyers and sellers. d. None of the above is correct; further information would be required to determine how the burden of the tax is distributed between buyers and sellers.