A Supply Curve Shows the Relation Between the Quantity of a Good

question 376

Multiple Choice

A supply curve shows the relation between the quantity of a good supplied and

• A) income. Usually a supply curve has negative slope.
• B) income. Usually a supply curve has positive slope.
• C) the price of the good. Usually a supply curve has negative slope.
• D) the price of the good. Usually a supply curve has positive slope.

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Definitions:

Personal Income Tax

A tax levied on individuals or households based on their total annual income.

Corporate Income Tax

A tax imposed on the net income or profit of corporations.

Governs Least

A principle often associated with libertarianism, suggesting that the best government is one that exercises minimal intervention in personal lives and the economy.

Government

The organization or system through which a community or nation is governed, responsible for creating and enforcing rules and managing public resources.