If the Elasticity of Demand Is _____ and the Elasticity

question 101

Multiple Choice

If the elasticity of demand is _____ and the elasticity of supply is _____,tax revenue is likely to decrease if the tax rate is increased.

• A)3.3;2.1
• B)3.3;0.5
• C)0.2;2.1
• D)0.2;0.5

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Definitions:

Collective Conscious

A set of shared beliefs, ideas, attitudes, and knowledge that is common to a social group or society.

Ego

In psychoanalytic theory, it represents the part of the psyche that mediates between the desires of the id, the values of the superego, and the external world.

Personal Unconscious

A term by Carl Jung referring to a layer of the unconscious mind that contains forgotten experiences and repressed memories unique to the individual.

Collective Unconscious

A term coined by Carl Jung, it refers to the part of the unconscious mind that is derived from ancestral memory and experience and is common to all humankind.