Which of the Following Increases the Equilibrium Price of a Used

question 128

Multiple Choice

Which of the following increases the equilibrium price of a used car and decreases the equilibrium quantity?

• A) an announcement by the U.S. Attorney General that the windows on older cars were made with cheaper glass that can explode at high speeds
• B) new federal legislation that raises the legal driving age to twenty-four in all states
• C) a new fee that used car dealers must pay to the government on all sales of used cars
• D) all of the above because each is consistent with the "law of demand"

Understand the categorization of cash receipts and payments into operating, investing, and financing activities.

Recognize the criteria for an item to be classified as a cash equivalent.

Familiarize with the purpose and importance of preparing a statement of cash flows.

Learn how transactions impact the cash and cash equivalents' ending balance.

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Definitions:

Sandra Day O'Connor

The first woman appointed to the U.S. Supreme Court, serving from 1981 to 2006.

Federal Regulatory

Pertains to rules and regulations set by the federal government to control practices across various sectors such as banking, environment, and healthcare.

Anti-regulatory Views

Perspectives or opinions opposing the imposition of regulations by government bodies, often based on the belief that such regulations stifle economic growth, personal freedom, or technological innovation.

Pro-Cuban Government

A government or administration that is supportive of or aligned with the policies, ideals, or interests of Cuba.