If Government Were to Issue a Fixed Number of Licenses

question 45

Multiple Choice

If government were to issue a fixed number of licenses to produce a good or provide a service, this would likely:

• A) lower the price of the good or service to consumers.
• B) lower the wage received by those who have licenses.
• C) increase the wage received by those who have licenses.
• D) increase the demand for goods.

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Definitions:

Atrium

A chamber of the heart that receives blood returning to the heart from the body or the lungs.

Ventricle

(1) One of four interconnected chambers in the brain through which cerebrospinal fluid flows. (2) One of the chambers of the heart that receives blood from an atrium and pumps blood into arteries.

Pacemaker

An artificial device implanted in the body which uses electrical impulses to regulate the heart's rhythm or reproduce that rhythm.

Atrioventricular Node

A part of the heart's electrical system which regulates the timing of the heartbeats by delaying the transmission of electrical impulses from the atria to the ventricles.