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Lost4ever Lost4ever
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6 years ago
A tax is imposed on orange juice. Consumers will bear the full burden of this tax if the:
 a. price elasticity of demand for orange juice equals 1.0.
  b. demand for orange juice is perfectly elastic.
 c. demand for orange juice is unit elastic.
 d. demand curve for orange juice is perfectly inelastic.

Question 2

Explain how the Fed's structure provides a high degree of independence from the U.S. government. What are some of the benefits of this independence?

Question 3

Which of the following schools of thought believes that the major source of the macroeconomic problems are the disequilibria in the private labor and goods market?
 a. Keynesians and new Keynesians
  b. Only monetarists
  c. Only new classical economists
  d. Monetarists and new classical economists
  e. Monetarists and Keynesians

Question 4

A tax is imposed on wine. Sellers will bear no burden from this tax if the:
 a. demand for wine is perfectly inelastic.
 b. demand for wine is perfectly elastic.
 c. demand for wine is unit elastic.
 d. supply curve for wine is perfectly inelastic.

Question 5

How is money destroyed in the banking system?

Question 6

A tax is imposed on orange juice. Consumers will bear more of the burden of the tax:
 a. If the demand for orange juice is relatively inelastic and the supply is relatively elastic.
  b. If the demand for orange juice is relatively elastic and the supply is relatively inelastic.
  c. If the supply for orange juice is perfectly inelastic.
 d. none of the above

Question 7

Which of the following economic theories favors an active role for government in promoting low inflation and economic growth?
 a. New Keynesian
  b. Monetarists
  c. New classical economists
  d. Classical economists
  e. Marxists

Question 8

What limits a bank's ability to extend loans?

Question 9

Which of the following schools of thought believes that wages and prices are rigid in the short run?
 a. Keynesians and new Keynesians
  b. Only monetarists
  c. Only new classical economists
  d. Monetarists and new classical economists
  e. Monetarists and Keynesians

Question 10

If the supply curve for aspirin is perfectly elastic, a reduction in demand will cause the equilibrium price to:
 a. rise and the equilibrium quantity to fall.
 b. rise and the equilibrium quantity to stay the same.
  c. fall and the equilibrium quantity to fall.
 d. stay the same and the equilibrium quantity to fall.
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mmr53mmr53
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6 years ago
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Lost4ever Author
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6 years ago
Thanks for your help!!
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Correct Slight Smile TY
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2 hours ago
Thanks
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