If the demand curve is less elastic than the supply curve, then:
A. the buyers will bear a greater tax incidence.
B. the sellers will bear a greater tax incidence.
C. the buyers will bear a smaller tax burden than sellers.
D. the sellers will bear a greater tax burden than buyers.
A. the buyers will bear a greater tax incidence.
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Changes in the Lorenz curve since 1929 in the United States indicate that
A) the distribution of income today is identical to what it was in 1929. B) the distribution of income is slightly less equal today than in 1929. C) the distribution of income is slightly more equal today than in 1929. D) the distribution of income is much more equal today than it was in 1929.
Financial instruments used primarily to transfer risk would not include:
A. home mortgages. B. a bank loan. C. options. D. an insurance policy.