Inflation is the primary determinant of a country's living standards

How would the elimination of a sales tax affect the market for a product that had been subject to the tax?

A) The equilibrium price for the product would fall by less than the amount of the tax. B) The reduction in government revenue from the tax would be made up by an increase in property taxes. C) The supply of the product would become more elastic. D) The demand for the product would rise and the equilibrium price would fall by the amount of the tax.

If a person is unemployed because their industry has moved to another country, economists refer to the person as

A. structurally unemployed. B. cyclically unemployed. C. underemployed. D. frictionally unemployed.