The Original Six Members of the ASEAN (Association of Southeast

question 19

Multiple Choice

The original six members of the ASEAN (Association of Southeast Asian Nations) included all of the following countries except:

• A)Singapore.
• B)Thailand.
• C)Sri Lanka.
• D)Philippines.
• E)Brunei.

Describe how the elasticity of demand and supply affects the burden of a tax.

Understand the Laffer curve and its implications for setting tax rates.

Evaluate the impact of specific taxes on behavior and market outcomes.

Understand how the elasticity of supply and demand influences the burden of an excise tax.

---

Definitions:

High School Seniors

Students in their final year of high school, typically focusing on completing their education and preparing for college, vocational training, or entering the workforce.

Good Marriage

A partnership characterized by mutual respect, understanding, effective communication, and emotional support between spouses.

Family

Parents and their offspring, viewed as a collective, whether they reside in the same place or not.

Main Reason

The primary or most significant cause, factor, or motive behind an action, decision, or occurrence.