Which of the Following Statements Is TRUE? I

question 27

Multiple Choice

Which of the following statements is TRUE? I. Taxes may reduce consumption by exactly the same amount as government regulations. II. Taxes typically cost more than government regulations because taxes raise prices whereas regulations simply limit quantity. III. Command-and-control policies effectively reduce consumption; but may not be the lowest cost method for doing so.

• A) I and II only
• B) I and III only
• C) II only
• D) II and III only

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Definitions:

Family Myths

Unquestioned beliefs or fabricated narratives within a family that shape the family's identity and behavior but may not be based on facts.

Self-Sufficient

The ability of an individual, community, or country to provide for all their needs without external assistance.

Married Couples

Two individuals who have entered into a matrimonial bond recognized legally, socially, or ceremonially.

Residency Patterns

The arrangements or customs regarding where individuals or nuclear families reside, which can vary widely across cultures, including matrilocal, patrilocal, and neolocal practices.