The table below shows the export and import values of automobiles, pharmaceuticals, and clothing in Country A and Country B. Country AExports ($Billions)Imports ($Billions)Automobiles2040Pharmaceuticals3030Clothing400Country BExports ($Billions)Imports ($Billions)Automobiles020Pharmaceuticals4040Clothing4535 The weighted average of the intra-industry trade (IIT) shares in Country A's trade in automobiles, pharmaceuticals, and clothing is

Suppose the government imposes an 8 percent sales tax on clothing items and the tax is levied on sellers. Who pays for the tax in this situation? (Assume that the demand curve is downward sloping and that the supply curve is upward sloping.)

A) The sellers will pass on the entire sales tax to consumers and therefore the consumers bear the tax. B) The tax will be borne partly by consumers and partly by sellers. C) It is not possible to answer the question without information on price elasticities. D) The tax is borne entirely by the sellers.

Even if college imparted no additional knowledge to its graduates, they are likely to earn more because _____

a. firms like to say they only hire college graduates b. of the connections that one makes in college c. a college degree sends a signal of innate ability to employers d. their parents help them get a job