The Three Elements That Are Present in Almost All Cases

question 2

Multiple Choice

The three elements that are present in almost all cases of fraud are collectively known as the:

• A)fraud triangle.
• B)imprest system.
• C)fraud system.
• D)fraud rationalization.

---

Definitions:

Deadweight Loss

An economic inefficiency arising when there's a failure to attain or an impossibility of attaining equilibrium for a particular good or service.

Taxes on Labor

Refers to taxes imposed on wages or salaries earned, impacting the net income of employees.

Second Earners

Refers to individuals in a household who contribute income in addition to the primary breadwinner, often impacting households' labor supply decisions and overall economic dynamics.

Price Elasticities

A measure of how much the quantity demanded of a good responds to a change in the price of that good.