Because of the decrease in the value of money, there... - Solved MCQs & Answer

The government is considering placing a tax on cigarettes to raise revenue to finance health-care benefits. The demand for cigarettes is price inelastic Which of the following statements is True?

Ans: The tax on cigarettes may not raise as much revenue as anticipated in the years to com because the demand for cigarettes is likely to become more elastic over time.Read →

MCQ #1032

Which is NOT an aim of the process of socialization?

Ans: To teach infants to sit stand walk and run in that orderRead →

MCQ #2162

If a supply curve for a good is price elastic then?

Ans: the quantity supplied is sensitive to changes in the price of that goodRead →