Which Broad Field of Economics Would Most Likely Study How

question 73

Multiple Choice

Which broad field of economics would most likely study how consumers respond to a hike in alcohol taxes?

• A) Microeconomics
• B) Marginal economics
• C) Macroeconomics
• D) Monetary economics

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Definitions:

Legislative Authority

The power or right to enact laws, typically vested in a legislative body such as a parliament or congress.

Iron Triangles

Iron Triangles describe the stable, mutual relationships among regulatory agencies, interest groups, and legislative committees, leading to the implementation and perpetuation of specific policies and government actions.

Congressional Committee

A subgroup within the United States Congress tasked with specific duties, including legislation review, policy oversight, and investigations.

Executive Agency

A governmental body under the direct authority of the executive branch, responsible for administering specific legislation.