Question
What is equilibrium?
A. A good for which, other things equal, an increase in income leads to an increase in demand
B. A situation in which the price has reached the level where quantity demanded equals quantity supplied***
C. A curved graph that illustrates the theory that, if tax rates rise beyond a certain level, they discourage economic growth, thereby reducing government revenues
D. A tax on goods produced abroad and sold domestically
A. A good for which, other things equal, an increase in income leads to an increase in demand
B. A situation in which the price has reached the level where quantity demanded equals quantity supplied***
C. A curved graph that illustrates the theory that, if tax rates rise beyond a certain level, they discourage economic growth, thereby reducing government revenues
D. A tax on goods produced abroad and sold domestically
Answers
Ms. Sue
I agree.
Thank you! I have to turn in this assignment by midnight and that was my last question!
Ms. Sue
You're welcome. :-)\
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