Given an upward sloping supply curve, the more inelastic is ...

[rl]

Given an upward sloping supply curve, the more inelastic is demand, the greater the fraction of the burden of taxation that is borne by consumers.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The money supply contracts when the Fed:
 a. replaces worn and ripped Federal Reserve notes.
  b. sells government securities.
 c. borrows from the U.S. Treasury.
 d. purchases equities in major U.S. corporations.

[millet]

Answer to Question 1

True

Answer to Question 2

b