Other Things Remaining the Same,the Quantity of a Good or Service

question 149

Multiple Choice

Other things remaining the same,the quantity of a good or service demanded will increase if the price of the good or service

• A) rises.
• B) falls.
• C) does not change.
• D) rises or does not change.
• E) rises or falls.

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Definitions:

Tax-Free

Income, dividends, or distributions that are not subject to federal income tax.

Formed Corporation

A business entity that is legally created and registered under state law, offering liability protection to its owners.

Transaction

An agreement or exchange between two parties involving goods, services, or financial assets.

Schedule L

Used to provide additional details on financial status or transactions not captured in the main tax form; no longer in general use for most taxpayers.