The More Elastic Are Supply and Demand in a Market

question 167

True/False

The more elastic are supply and demand in a market, the greater are the distortions caused by a tax on that market, and the more likely it is that a tax cut in that market will raise tax revenue.

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Definitions:

Training Transfer

The successful application of skills, knowledge, or competencies acquired in a training setting to the job environment.

Kirkpatrick's Model

Kirkpatrick's Model is a widely used framework for evaluating the impact of training programs, comprising four levels: reaction, learning, behavior, and results.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the benefit (return) of an investment by the cost of the investment.

Fifth Element

A reference to the component in various frameworks that is considered essential but is often intangible or abstract, such as spirit or culture in organizational contexts.