Which of the Following Could Increase the Price of a Used

question 235

Multiple Choice

Which of the following could increase the price of a used car and also increase the equilibrium quantity sold?

• A) a new 8 percent federal excise tax placed on all new car purchases
• B) a special rebate program on all new cars
• C) an increase in wages for used car salespeople
• D) None of the above answers is correct

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Definitions:

Foreclosed

A legal process where a borrower's right to a property is terminated, usually due to failure to meet the repayment terms of a loan secured by that property.

Empty Nest Syndrome

Feelings of sadness or emotional distress affecting parents after their children have grown up and left home.

Postparental Period

A stage in an adult's life after the children have grown up and left home.