Which of the Following Children Is the Most Likely to Make

question 22

Multiple Choice

Which of the following children is the most likely to make the following statement: "You get a cold when your sinuses fill up with mucus. Colds come from viruses."

• A) Jared, a 6-year-old
• B) Gina, an 8-year-old
• C) David, a 10-year-old
• D) Olivia, a 13-year-old

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Definitions:

Consumption Declines

A decrease in the amount of goods and services purchased and consumed by individuals or households.

Perfectly Elastic

Describes a situation in economic theory where the quantity demanded or supplied changes infinitely in response to any change in price.

Tax

An enforced economic levy or different levy applied to a taxpayer by a governmental agency intended to provide for government spending and multiple public outlays.

Perfectly Inelastic Supply

Perfectly Inelastic Supply describes a situation in which the quantity supplied of a good does not change regardless of price movements.