When a good with equally elastic demand and supply is taxed the incidence of the tax is borne

-entirely by consumers

-entirely by producers

-by both consumers and producers

-mostly by consumers mostly by producers

An employer has a duty to indemnify, or compensate an employee for any losses suffered as a result of authorized legal acts that the employee performs under the employment agreement. (A) True (B) False

At 4 percent inflation, how much time will it take for prices to double? six years nine years twelve years eighteen years

Which of the following correctly defines the consumer market? A. Manufacturers, resellers, and consumers B. Consumers and the resellers who consumers buy their products from C. Consumers who spend more than $5000.00 yearly on goods and services D.

Price comparison involves which of the following? A. Figuring out the price per unit and comparing it to other choices B. Figuring out the cost of an item with sales tax C. Figuring out the cost of the item to the manufacturer D.

Browne, a self-employed taxpayer, has 2018 business net income of $15,000 prior to any expense deduction for equipment purchases. In 2018, Browne purchases and places into service, for business use, office machinery costing $20,000.

Adam Smith, the father of modern economics, was puzzled why so many things that are useful and necessary for life are cheap while so many things we can live without are so expensive.

Which of the following will always be true when an economy is in long-run equilibrium?

Which of the following statements is correct? rev: 04_09_2018 Multiple Choice Total utility is the product of multiplying price times marginal utility. Total utility is the sum of marginal utilities.

Adjectives are used to describe personality traits. True False

At the beginning of the year, manufacturing overhead for the year was estimated to be $275,280. At the end of the year, actual direct labor-hours for the year were 22,900 hours, the actual manufacturing overhead for the year was $265,400, and