From the data in the above table, when the economy is in short-run equilibrium, if aggregate demand does not change, then as time passes the

If supply is perfectly inelastic, a sales tax imposed on sellers is paid by

A) only the buyers. B) only the sellers. C) both the buyers and sellers. D) None of the above answers is correct.

____ occurs whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant

a. Pecuniary benefits and costs b. Externalities c. Intangibles d. Monopoly costs and benefits e. none of the above