Which of the Following Statements Is TRUE? a Tax and Subsidy

question 123

Multiple Choice

Which of the following statements is TRUE? A tax and subsidy are similar in that:
I. they both create a deadweight loss.
II. the burden of the tax and benefit of the subsidy depend on relative elasticities of demand and supply.
III. they both change the equilibrium level of output.

• A) I only
• B) I and II only
• C) I, II, and III
• D) I and III only

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Definitions:

Calcium

A chemical element essential for living organisms, playing crucial roles in bone formation, blood clotting, and muscle contraction.

Neutrophils

A type of white blood cell important in the innate immune system, playing a key role in defending the body against infections and foreign invaders.

Lymphocytes

A type of white blood cell involved in the immune response, playing a key role in the body's defense against pathogens.

White Blood Cells

White blood cells, or leukocytes, are components of the blood that protect the body against both infectious disease and foreign invaders.