A Decrease in the Size of a Tax Is Most

question 23

Multiple Choice

A decrease in the size of a tax is most likely to increase tax revenue in a market with

• A)elastic demand and elastic supply.
• B)elastic demand and inelastic supply.
• C)inelastic demand and elastic supply.
• D)inelastic demand and inelastic supply.

Understand the appropriate strategies for organizing business messages.

Revise sentences to improve clarity, respectfulness, and effectiveness in business communication.

Understand the concept and roles of coalitions within policy advocacy.

Recognize the strategies and preparations for effectively interacting with legislators.

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Definitions:

Demand Instrument

A demand instrument is a financial document that requires payment of a specified sum of money immediately upon demand or within a short time frame.

Overdue

Refers to something being past its expected or scheduled time, often used in the context of payments or tasks.

Primarily Liable

Refers to the party that bears the first or main responsibility for fulfilling an obligation or debt.

Secondarily Liable

Liable for paying the amount designated on an instrument if the primarily liable party defaults.