Which of the Following Statements Is CORRECT Regarding the Enactment

question 28

Multiple Choice

Which of the following statements is CORRECT regarding the enactment intolaw of a tax bill?

• A)A tax bill must always be signed by the President tobecome law.
• B)A tax law must be approved by the Treasury Department.
• C)A tax law must either be signed intolaw by the President or Congress must override a presidential vetoof the proposed law.
• D)None of these are correct.

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Definitions:

Demand Curve

A demand curve is a graphical representation that shows the relationship between the price of a good or service and the quantity of it that consumers are willing to purchase at various prices.

Substitute Good

Refers to a product or service that a consumer sees as the same or similar to another product, thus they can be used interchangeably.

Substitute Goods

Products or services that can be used in place of each other, where the consumption of one increases the likelihood of the other being consumed less.

Demand Curve

A graph showing the relationship between the quantity of a goods or services demanded and its price, usually downward sloping.