The Ratio of the Change in the Equilibrium Level of Output

question 247

Multiple Choice

The ratio of the change in the equilibrium level of output to the change in taxes is the

• A) tax multiplier.
• B) tax revenue calculator.
• C) tax rebate ratio.
• D) government tax deficit.

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Definitions:

Accumulated Depreciation

The cumulative sum of depreciation costs charged to a fixed asset from the time it was first utilized.

Accumulated Depreciation

The aggregate cost of a tangible asset that has been recognized as depreciation since the asset's initial use.

Trading In

The action of exchanging an old product for a discount on a new purchase.

Repairs

Expenditures to restore equipment, machinery, or property to its previous condition or to keep it in operational status without enhancing its value or extending its life.