Agreeing with Keynesian economists, monetarists believe that the economy is subject to disequilibrium that must be corrected by government action.
a. True
b. False
Indicate whether the statement is true or false
Question 2
When a good is taxed, the tax burden
a. falls disproportionately on the side of the market that is more elastic.
b. falls disproportionately on the side of the market that is more inelastic.
c. falls disproportionately on the side of the market that is closer to unit elastic.
d. is not impacted by the relative elasticities of supply and demand.
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
This chart illustrates the four quadrants in which we can place the relationships between the state
Links to the World Economy
The Importance in the World Fossil Fuel Economy
Japan’s Economy and Society
Illustration of the anatomy of a normal subject (A) and a patient with sleep apnea (B)