Which of the Following Statements Is True for Markets in Which

question 39

Multiple Choice

Which of the following statements is true for markets in which the demand curve slopes downward and the supply curve slopes upward?

• A)As the size of the tax increases,tax revenue continually rises and deadweight loss continually falls.
• B)As the size of the tax increases,tax revenue and deadweight loss rise initially,but both eventually begin to fall.
• C)As the size of the tax increases,tax revenue rises initially,but it eventually begins to fall;deadweight loss continually rises.
• D)As the size of the tax increases,tax revenue rises initially,but it eventually begins to fall;deadweight loss falls initially,but eventually it begins to rise.

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Definitions:

Acceptance-of-fate

The process of recognizing and resigning oneself to the outcomes of life without attempt to change or challenge them.

Planners

Individuals or tools engaged in the process of outlining strategies or actions for future activities.

Americans

Residents or citizens of the United States of America.

Old Age

The latter stage of human life, typically considered to begin at the retirement age of 65.