The More Elastic the Supply and Demand Curves in a Market,the

question 8

True/False

The more elastic the supply and demand curves in a market,the more taxes in that market distort behaviour,and the more likely it is that a tax cut will raise tax revenue.

---

Definitions:

Morality of Associations

The ethical considerations involved in one's affiliations or connections with groups or individuals.

Difference Principle

A concept in political philosophy that suggests social and economic inequalities should be arranged so that they are to the greatest benefit of the least advantaged members of society.

Egalitarian Nature

The quality or state of believing in or promoting equal rights, benefits, and opportunities for all individuals.

Inequality

The state of being unequal, particularly in terms of rights, status, or opportunities among different groups of people.