This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In 1991, Congress levied a 10 percent luxury tax on yachts over 100,000 . The tax brought in far ... (Read 31 times)

nenivikky

  • Hero Member
  • *****
  • Posts: 516
on: Jun 30, 2018
In 1991, Congress levied a 10 percent luxury tax on yachts over 100,000 . The tax brought in far less than was anticipated, they must have passed the legislation thinking the demand for yachts was more ___ than it actually was.
 a. elastic
 b. inelastic
 c. unit elastic
 d. none of the above

Question 2

If M increases faster than V decreases:
 a. nominal GDP increases.
 b. nominal GDP decreases.
 c. nominal GDP stays the same.
 d. there is an indeterminate effect on nominal GDP.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joewallace

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


nenivikky

  • Member
  • Posts: 516
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

amcvicar

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con
A mere one-half percent of Americans owns over a quarter of the entire nation’s wealth. Very few ... A mere one-half percent of Americans owns over a quarter of the entire nation’s wealth. Very few ...
Approximately 40 percent of farmers in the United States are 55 years old or older Approximately 40 percent of farmers in the United States are 55 years old or older
Daniel's Enterprises has a beta of 1.98 and a growth rate of 12 percent. The stock is ... Daniel's Enterprises has a beta of 1.98 and a growth rate of 12 percent. The stock is ...
Determine the mass percent of Fe3+ in a 0.546g sample of iron ore, if 22.40 mL of a 0.1000 M ... Determine the mass percent of Fe3+ in a 0.546g sample of iron ore, if 22.40 mL of a 0.1000 M ...
Video: Power Supply Polyacrylamide Gel Protein Sample

For a complete list of videos, visit our video library