Which of the Following Is a Correct Statement About Opium

question 51

Multiple Choice

Which of the following is a correct statement about opium?

• A)Opium has been eaten,drunk,and smoked for centuries.
• B)The usual method of preparation for opium as medication was to dissolve the crude opium in wine.
• C)Hippocrates advocated poppy wine as a medicine for many complaints.
• D)The tincture of opium,called laudanum,was a popular medication for centuries.
• E)All of the above are correct.

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Definitions:

Other-Things-Equal Assumption

The assumption that factors other than those being considered are held constant. Also known as the ceteris paribus assumption.

Supply

The total amount of a specific good or service that is available to consumers at current prices.

Excise Tax

A tax imposed on specific goods, services, or activities, such as tobacco, alcohol, and fuel, usually intended to discourage their use or generate revenue.

Demand and Supply

Economic model that determines the price of a good in a market, based on the desire and availability of the good.