TABLE 4-4 -Refer to Table 4-4. If the Government Were to Remove

question 90

Multiple Choice

TABLE 4-4

-Refer to Table 4-4. If the government were to remove a $1.20 price floor in the milk market, what would be the result?

• A) a decrease in price and an increase in the quantity of milk supplied
• B) an increase in both price and the quantity of milk demanded
• C) a decrease in price and an increase in the quantity of milk demanded
• D) an increase in both price and the quantity of milk supplied

Understand the concepts of progressive, regressive, and proportional taxation.

Identify the major sources of federal and state revenue.

Calculate personal income tax and understand the concept of marginal tax rate.

Differentiate between the financial burden of different types of taxes on various income groups.

---

Definitions:

Genetic Predispositions

The inherited genetic patterns that influence the likelihood of developing certain diseases or conditions.

Prenatal Problems

Complications or issues that arise during pregnancy, potentially affecting the health of the mother or the development of the fetus.

Despair

A profound sense of hopelessness and loss, often associated with major depressive disorder in psychological terms.

Impending Doom

A feeling of overwhelming dread or fear that something terrible is about to happen.