On necessities, more of the incidence of tax is
A. borne by the producer.
B. borne by the consumer.
C. shared equally between the producer and the consumer.
D. None of these are correct.
Answer: B
Economics
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What happened to real interest rates during the early 1930s?
A) They declined as nominal interest rates declined. B) They rose as nominal interest rates rise. C) They declined due to deflation. D) They rose due to deflation.
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Which of the following would be most likely to have monopoly power?
a. a long-distance telephone service provider b. a local cable TV provider c. a large department store d. a gas station
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