If the elasticity of supply is much greater than the elasticity of demand, an excise tax levied on the suppliers will
a. cause the suppliers to incur a greater burden of the tax than demanders
b. cause the demanders to incur a greater burden of the tax than suppliers
c. the burden of the tax will be shared equally between the suppliers and the demanders
d. cause the entire burden of the tax to rest on the demanders
e. Without more information as to the amount of the excise tax, who will incur a greater burden will be unclear
B
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If the four-firm concentration ratio of an industry is
A) near 100, the industry is considered very competitive. B) less than 40, the industry is considered an oligopoly. C) over 40, the industry is considered monopolistic competition. D) less than 40, the industry is considered monopolistic competition. E) close to 0, the industry is considered a monopoly.
Inflation targeting has typically been accompanied by lower inflation
Indicate whether the statement is true or false