If Demand Decreases and Supply Increases,the Direction of Change in the Equilibrium

question 264

True/False

If demand decreases and supply increases,the direction of change in the equilibrium quantity is unpredictable unless the relative magnitudes of the demand and supply changes are known.

Understand the legal treatment of agreements involving attempts to influence public officials or legislation.

Identify the types of costs and expenses that are considered in determining violation of usury statutes.

Understand the enforceability of agreements regarding trade, profession, or business limitations.

Identify types of contracts and their enforceability, including adhesion contracts, contracts implicating public policy, and unconscionable contracts.

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Definitions:

FICA Tax Rate

The combined percentages for Social Security and Medicare taxes that employers and employees must pay based on wages or salaries.

Federal Income Taxes

Levies placed on the yearly income of persons, companies, trusts, and various legal bodies by the federal government.

Federal Unemployment Compensation Tax

A federal tax imposed on employers to fund state workforce agencies and unemployment insurance.

Payrolls Tax

Payrolls Tax is a tax imposed on employers based on the salary and wages paid to employees, which can encompass federal, state, and local taxes.