When a Statute Uses the Word "May," This Means That

question 115

Multiple Choice

When a statute uses the word "may," this means that it will

• A) be interpreted as requiring a particular action.
• B) be interpreted as allowing discretion.
• C) not be official.
• D) None of these choices is correct.

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Definitions:

Shortage

A situation where the demand for a product exceeds its supply in a market, often leading to increased prices.

Excess Supply

A market condition where the quantity of a good or service supplied exceeds the quantity demanded at a particular price, often leading to price decreases.

Black Market

An illegal trading environment where goods or services are bought and sold without government authorization or oversight.

Market Determined Prices

Prices established through the interaction of supply and demand in a marketplace, reflecting the equilibrium where the quantity supplied equals the quantity demanded.