As demand and supply become more elastic, taxes reduce market output more and raise less tax revenue. ?
Answer the following statement true (T) or false (F)
True
Rationale: If consumers and producers are very responsible to price changes, their large response to a tax will undermine efforts to raise revenue.
Economics
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Controversy over the ECB includes all of the following, EXCEPT:
A) its poor performance in controlling euro inflation. B) its lack of accountability for its actions. C) its remoteness from democratic control. D) the perception that the central bank does not focus on problems related to European economic performance.
Economics
Which of the following is not an argument in favor of restricting trade?
a. to preserve national security b. to prevent dumping c. to increase consumer surplus d. to protect infant industries e. to protect declining industries
Economics