A Tax Credit Given to First-Time Home Buyers Would Result

question 33

Multiple Choice

A tax credit given to first-time home buyers would result in a _____________ shift in the ______________ curve for housing,which would lead to the unintended result of a(n) _____________ in the price of housing.

• A) leftward; supply; increase
• B) leftward; demand; decrease
• C) rightward; supply; decrease
• D) rightward; demand; increase
• E) none of the above

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Definitions:

Productive Skills

Productive skills are those related to the output of work, such as writing and speaking, which enable individuals to produce goods, services, or ideas effectively.

Highly Educated Workers

Individuals who have attained a high level of education, often holding college degrees or higher, which usually results in specialized skills.

Less-Educated Workers

Workers with lower levels of formal education, often facing different employment opportunities and wage scales compared to more educated workers.

Minimum Wage

The lowest hourly, daily, or monthly remuneration that employers may legally pay to workers.