Which of the Following Is Most Likely to Reduce the Consumption

question 94

Multiple Choice

Which of the following is most likely to reduce the consumption of an exhaustible natural resource?

• A)a decrease in monopoly control of the market for the resource 
• B)government tax policies that give tax breaks to entrepreneurs who search for new reserves of the resource 
• C)implementation of a price ceiling for the resource below its equilibrium price 
• D)government macroeconomic policies that lower the interest rate on bonds

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Definitions:

Counteroffer

A response to an offer in which the original offer is rejected and a new offer is proposed in its place.

Article 2

A section of the Uniform Commercial Code that governs sales of goods in the United States.

Firm Offer

in commercial law refers to a binding proposal made by a seller to sell goods or services at a specified price, which cannot be withdrawn for a certain period.

Merchant

An individual or company engaged in the business of selling goods or services.