What Is a Primary Innovation

question 71

Multiple Choice

What is a primary innovation?

• A)A modification made to an older object.
• B)An object or idea that is genuinely new and different.
• C)An innovation recently drawn from another culture.
• D)An object which has yet to be discovered.
• E)An object that has been rediscovered.

Evaluate different tax bases and their impact on tax efficiency and economic behavior.

Understand how tax incidence and the elasticity of supply and demand affect who bears the burden of a tax.

Identify the characteristics of regressive, proportional, and progressive taxes and their impact on taxpayers.

Understand the implications of tax shifting mechanisms and how they affect the distribution of tax burdens.

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Definitions:

Social Insurance

A government-sponsored program that provides financial assistance to individuals in events of unemployment, disability, or retirement.

Public Assistance

Government-provided financial aid or services to individuals and families in need to ensure a basic standard of living.

Earned Right

A privilege or benefit that has been obtained or secured through work, achievement, or service.

Public Assistance

Government programs designed to provide support to individuals and families in need, which may include financial aid, food stamps, and housing assistance.