Any time the economy is between a trough and a peak of the business cycle it is in a recovery phase

The greater the elasticity of demand of a taxed item, the greater the tax revenue received

a. True b. False Indicate whether the statement is true or false

Which of the following events can not cause the labor-supply curve to shift?

a. a change in people's attitudes toward work b. an increase in the price of output c. a change in workers' alternative opportunities d. an increase in the rate of immigration