Which generalization is incorrect?
A. Given supply, the more elastic the demand for a product, the larger is the portion of an excise tax that is shifted forward to consumers
B. Given demand, the more elastic the supply of a product, the larger is the portion of an excise tax that is borne by producers
C. Given supply, the more elastic the demand for a product, the larger is the portion of an excise tax that is borne by the sellers
D. Given demand, the less elastic the supply of a product, the larger is the portion of an excise tax that is shifted forward to consumers
C. Given supply, the more elastic the demand for a product, the larger is the portion of an excise tax that is borne by the sellers
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Macroeconomics deals with ________ while microeconomics deals with ________
A) choices important to people; choices not important to people B) economywide choices; choices of individuals C) choices that involve money; choices that does not involve money D) choices of rich people; choices of poor people
An increase in the money supply may __________ total expenditures, leading to a __________ shift of the AD curve
A) increase; rightward B) increase; leftward C) decrease; rightward D) decrease; leftward