When a Curve Shifts,this Indicates That

question 74

Multiple Choice

When a curve shifts,this indicates that:

• A) One variable has increased and the other has decreased.
• B) A change has occurred in the underlying relationship between the two variables.
• C) The slope has changed.
• D) The two variables are now unrelateD.

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Definitions:

Progressive

A term often used to describe a tax system in which the tax rate increases as the taxable amount or income increases.

Tax System

The comprehensive set of laws and regulations governing the collection of taxes by the government from individuals and businesses.

Average Tax Rate

Total taxes paid divided by total income

Taxable Income

The amount of income used to determine how much tax an individual or a company owes to the government in a given tax year.