Consider the Following Two American Proverbs, Which Seem to Contradict

question 170

Multiple Choice

Consider the following two American proverbs, which seem to contradict one another: 'Birds of a feather flock together' and 'opposites attract'.The authors of the textbook would probably say that ____.

• A)this contradiction is an anomaly since Americans tend to be extremely single-minded in their 'common sense' views about social psychology
• B)most people in the US probably believe one of these adages to be true - but not both - since most people have very clear personal theories about social psychology
• C)the contradiction is not surprising at all, since 'common sense' theories are often poorly defined, i.e., most people would probably say that both of these things are true (if you asked them at different times)
• D)most people would not see the contradiction if it were pointed out to them, since the average person is not a strong logical thinker

Recognize the characteristics and effects of specific excise taxes on products, including efficiency loss.

Analyze the progressive, regressive, and proportional nature of various tax systems, including the U.S. tax system.

Understand the significance of elasticity in determining the effect of taxes on price and quantity in the market.

Comprehend the role of tax and subsidy interventions in competitive markets and their outcomes.

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