If Sanctions Are Imposed on Buyers but NOT on Sellers

question 54

Multiple Choice

If sanctions are imposed on buyers but NOT on sellers of an illegal good, then the equilibrium price ________ and the equilibrium quantity ________.

• A) rises; increases
• B) rises; decreases
• C) falls; increases
• D) falls; decreases

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Definitions:

Ostracized

Being excluded, shunned, or ignored by others within a social group.

Refractory Period

The period of time following an action potential during which a neuron is incapable of firing another action potential or its threshold for firing is significantly elevated.

Orgasm

The climax of sexual stimulation, characterized by intense pleasure and physiological changes.

Stimulation

The action of arousing interest, excitement, or activity in someone or something, often through external inputs or stimuli.