If the elasticity of supply for a good is greater than the government expected:
a. Consumers will bear more of the burden of the tax than the government expected.
b. Producers will bear more of the burden of the tax than the government expected.
c. The tax will raise less revenue than the government expected

Among the United States, Finland, and South Africa, income is distributed most equally in ________ and least equally in ________

A) the United States; South Africa B) Finland; South Africa C) Finland; the United States D) South Africa; the United States

The Federal Reserve econometric model estimates that a 1 percent increase in government spending, with the money supply increased to hold the interest rate constant, will

A) increase real GDP by 3 percent in 3 years. B) increase real GDP by 3 percent in 4 years. C) increase real GDP by 1 percent 2 years. D) have no effect on real GDP after 3 years.