A Tax on a Good Whose Demand Is Perfectly Price

question 86

True/False

A tax on a good whose demand is perfectly price inelastic will be effective in discouraging consumption of that good.

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Definitions:

Deterministic

A philosophy suggesting that all events, including human actions, are ultimately determined by causes external to the will.

Emotional Complexity

The ability to experience and understand a wide range of emotions, often simultaneously or in nuanced ways.

Anxiety

To Freud, a feeling of fear and dread without an obvious cause: reality anxiety is a fear of tangible dangers; neurotic anxiety involves a conflict between id and ego; moral anxiety involves a conflict between id and superego.

Theories Of Personality

Systematic explanations and interpretations of human behavior and mental processes that account for individual differences in personality traits and dynamics.