For a Good That Is Taxed,the Area on the Relevant

question 41

Multiple Choice

For a good that is taxed,the area on the relevant supply-and-demand graph that represents government's tax revenue is a

• A)triangle.
• B)rectangle.
• C)trapezoid.
• D)None of the above is correct;government's tax revenue is the area between the supply and demand curves,above the horizontal axis,and below the effective price to buyers.

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Definitions:

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People who have achieved their fullest potential, realizing their capabilities, and expressing their true selves.

Personal Values

The set of principles or standards of behavior that are regarded as important by an individual, guiding their actions and judgments.

Maslow

A psychologist best known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

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A concept in Freudian psychology that suggests an obsession with oral activities (e.g., eating, talking, smoking) resulting from fixation at the oral stage of psychosexual development.