12th Grade Taxes & Subsidies Quizzes, Questions & Answers

12th Grade

Top Trending Taxes & Subsidies Quizzes

You will need the graph from class to answer some of the following questions. if the question asks for a number (dollar or quantity, just input the number without any dollar signs--> ex: $30 would be inputed 30)

Questions: 20 | Attempts: 386 | Last updated: Mar 22, 2025

Sample Question 1
The elasticity of demand measures the responsiveness of: A. Demand to price changeB. Quantity demanded to price changeC. Shifts in demand when price changesD. Changes in total expenditures when total revenues changeE. Changes in total revenues when total expenditures change

A

B

C

D

Sample Question 2
If a good is considered a necessity, which of the following is most likely to occur?A The demand will be more elasticB The demand curve will be flatterC The quantity demanded is likely to be more responsive to price changesD The quantity demanded is likely to be less responsive to price changesE A price increase is likely to lead to less total revenue

A

B

C

D

E

Sample Question 3
If scientists discover alternative ways of powering automobiles and markets are created for these alternative fuels, the demand for gasoline is going to become:more elasticA less elasticB more costlyC indeterminateD more plentiful

A

B

C

D