An Unintended Effect of a Tax Credit Given to First-Time

question 1

Multiple Choice

An unintended effect of a tax credit given to first-time home buyers would be a _____________ shift in the ______________ curve for housing,which would result in a(n) _____________ in the price of housing.

• A) leftward; supply; increase
• B) leftward; demand; decrease
• C) rightward; supply; decrease
• D) rightward; demand; increase
• E) none of the above

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Definitions:

Birthday Cakes

Specifically designed cakes consumed as part of a celebration of an individual's birthday, often decorated and personalized according to preferences.

Marginal Cost

The augmentation in complete financial commitment resulting from the manufacture of one more unit of a good or service.

Fixed Costs

Costs that remain constant regardless of production or sales volume, including rent, salaries, and insurance fees.

Birthday Cakes

Bespoke or pre-made cakes specifically designed and decorated for celebrating someone's birthday.