Given Any Downward-Sloping Demand Curve for a Good,the More Price-Elastic

question 105

Multiple Choice

Given any downward-sloping demand curve for a good,the more price-elastic the supply curve,the _____ equilibrium output will fall and the _____ will be the deadweight loss when the government imposes an excise tax.

• A)more;smaller
• B)more;larger
• C)less;smaller
• D)less;larger

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Definitions:

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The authority granted to legislative bodies to review, monitor, and supervise federal agencies, programs, activities, and policy implementation.

Executive Branch

The branch of government responsible for implementing and enforcing laws, headed by the President in the United States.

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A parliamentary procedure where debate over a proposed piece of legislation is extended, allowing one or more members to delay or entirely prevent a vote on the proposal.

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The set of priorities and proposed laws that a legislative body or a politician aims to enact and implement.