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Author Question: If real GDP in Sweden was SEK 822 billion at the end of 1993 and SEK 950 billion at the end of 1994, ... (Read 57 times)

Mr. Wonderful

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If real GDP in Sweden was SEK 822 billion at the end of 1993 and SEK 950 billion at the end of 1994, we can say that the Swedish economy grew at an annual rate of 7 in 1994.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Assume that the elasticities of supply and demand in an industry are both equal to 2 and that it is currently untaxed. A new tax imposed on the industry will:
 a. be borne more by suppliers than demanders.
 b. be borne more by demanders than suppliers.
 c. be borne equally by demanders and suppliers.
 d. not raise any added revenue for the government since demand is relatively elastic.



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Bigfoot1984

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Answer to Question 1

False

Answer to Question 2

c




Mr. Wonderful

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


bigsis44

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Reply 3 on: Yesterday
Wow, this really help

 

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