Which of the Following Does Not Contribute to the Dynamic

question 25

Multiple Choice

Which of the following does not contribute to the dynamic nature of the tax law?

• A)The political pressure from professional lobbyists
• B)Changes in the economic and social climate
• C)Changes in revenue needs of the government
• D)All of the above contribute to the dynamic nature of the tax law

---

Definitions:

Supply Curve

A graph showing the relationship between the price of a good and the quantity of that good that sellers are willing to supply.

Perfectly Inelastic

Describes a situation in which the quantity demanded or supplied does not change in response to a price change.

Demand Determined

implies that the quantity and price of goods and services are decided by the consumers' demand or preferences in the market.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded.