This topic contains a solution. Click here to go to the answer

Author Question: Goods that are heavily taxed, such as alcohol and cigarettes, often have: a. relatively inelastic ... (Read 73 times)

dakota nelson

  • Hero Member
  • *****
  • Posts: 604
Goods that are heavily taxed, such as alcohol and cigarettes, often have:
 a. relatively inelastic demand, such that the tax burden falls primarily on sellers and the deadweight loss associated with the tax is smaller than if demand were elastic.
  b. relatively elastic demand, such that the tax burden falls primarily on sellers and the deadweight loss associated with the tax is smaller than if demand were inelastic.
  c. relatively inelastic demand, such that the tax burden falls primarily on buyers and the deadweight loss associated with the tax is smaller than if demand were elastic.
  d. relatively elastic demand, such that the tax burden falls primarily on buyers and the deadweight loss associated with the tax is smaller than if demand were inelastic.

Question 2

The Phillips curve relationship can also be seen indirectly from the AD/AS model.
 a. True
  b. False
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

itsakadoozi

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

c

Answer to Question 2

True




dakota nelson

  • Member
  • Posts: 604
Reply 2 on: Jun 30, 2018
Excellent


billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

For a complete list of videos, visit our video library