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Holding all else constant,an increase in consumption taxes,such as sales taxes or a VAT,will ________ the price of consumption goods and ________ output.
John Partner's, Capital
Represents the account on a balance sheet indicating the value of an owner's (John Partner, in this case) interest in the business.
Cash
A form of currency that includes coins and currency notes, used as a medium of exchange.
Accounts Payable
A liability on a company's balance sheet representing the amounts due to suppliers by the business.
Cash
Money in the form of coins or notes that is readily available for transactions.
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