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To Encourage Sales of New and Existing Homes,Congress Implemented a Tax

question 203

Multiple Choice

To encourage sales of new and existing homes,Congress implemented a tax credit in 2009.This is an example of ________ policy.


Definitions:

Demand Coefficient

A parameter in demand analysis that measures the sensitivity of the quantity demanded of a good to changes in its price or other factors.

Quantity Demanded

The complete quantity of a product or service that customers are prepared and able to buy at a given price.

Elasticity Coefficient

A numerical measure of how much the quantity demanded or supplied of a product changes in response to a change in its price, income level, or other factors.

Total Revenue

The total income received by a firm from the sale of its products or services before any expenses are subtracted.

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