Why Would a Politician Find It Difficult to Remove a Binding

question 25

Multiple Choice

Why would a politician find it difficult to remove a binding price ceiling?

• A) because it greatly benefits firms,and they would spend a lot of money to lobby against the law's repeal
• B) because it greatly benefits government,which receives additional tax revenue as a result
• C) because it greatly benefits all consumers,and they are also voters
• D) because it greatly benefits some consumers who are also voters
• E) because it greatly benefits society as a whole,with all consumers able to buy as much as firms produce

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Definitions:

Interference

The phenomenon where the learning of new information hampers the ability to recall previously learned information.

Suggestibility

The susceptibility of individuals to accept and incorporate misinformation or ideas from others into their own memory and beliefs.

Flashbulb Memory

Flashbulb memory is a vivid, detailed memory of an emotionally significant moment or event, which feels as if it has been captured in a photograph.

Memory Confidence

The level at which one trusts the accuracy of their own memories.