The more elastic the demand for a good,
a. the more of an excise tax is that is collected by sellers
b. the more of an excise tax that is paid by buyers
c. the more an excise that is paid by sellers
d. the more elastic the supply of that good
e. the smaller the burden of a tax on that good
C
Economics
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Which of the following changes does NOT shift the long-run aggregate supply curve?
A) a decrease in the labor force B) a fall in the price level C) a rise in number of college graduates in the labor force D) a tax hike that reduces the capital stock
Economics
If the relative price of S in terms of T is 2 and S has a nominal price of $1, then the relative price of T is
A) $2. B) 50 cents. C) 1/2 S. D) Need more information to answer.
Economics