A tax is imposed on orange juice. Consumers will bear no burden from this tax if the:
a. demand for orange juice is perfectly inelastic.
b. supply curve for orange juice is unit elastic.
c. demand for orange juice is unit elastic.
d. supply curve for orange juice is perfectly inelastic.
Question 2
In the equation of exchange, velocity will tend to rise when:
a. the price level rises, other things being equal.
b. real GDP rises, other things being equal.
c. the money supply declines, other things being equal.
d. all of the above.
(a) Feeding by bear on salmon results in large allochthonous inputs of nutrients into (b) the forest
Polar Bear
Economic recession in 2008 saw a small decrease in demand
Have at least one citrus fruit (such as an orange or grapefruit) daily