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Author Question: Traditional Keynesian economics assumes that prices are relatively flexible in response to changes ... (Read 19 times)

jman1234

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on: Jun 30, 2018
Traditional Keynesian economics assumes that prices are relatively flexible in response to changes in aggregate expenditures.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

A tax is imposed on wine. Sellers will bear the full burden of this tax if the:
 a. demand for wine is perfectly inelastic.
 b. price elasticity of demand for wine equals 1.0.
  c. demand for wine is unit elastic.
 d. supply for wine is perfectly inelastic.


ASDFGJLO

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  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

d


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