Refer to the figure in which S is the before-tax supply curve and S t is the supply curve after an excise tax is imposed. The burden of this tax is borne:
A. equally by consumers and producers.
B. most heavily by consumers.
C. most heavily by producers.
D. only by consumers.
B. most heavily by consumers.
Economics
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Under the Bretton Woods exchange rate system, ________ could sell their dollars to the American government in exchange for gold
A) American citizens B) foreign central banks C) foreign citizens D) all of the above
Economics
Economies of scale occur when
A) a firm's long-run average total costs fall as it increases the quantity of output it produces. B) the marginal product of labor is greater than the average product of labor. C) the demand for a firm's output increases. D) short-run marginal cost falls.
Economics