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Use the figure below to answer the following question(s) .
Figure 4-9
Refer to Figure 4-9. The market for gasoline was initially in equilibrium at point b and a $.40 excise tax is illustrated. What does the triangular area abc represent?
Ideological
Pertaining to a system of ideas and ideals, especially one that forms the basis of economic or political theory and policy.
Contingent
Dependent on or conditioned by something else; not absolute or certain.
Racial Stereotypes
Preconceived and oversimplified ideas or images about the characteristics of members of a specific race, often used to justify prejudicial attitudes and discrimination.
Criminal Justice
The system of practices and institutions of governments directed at upholding social control, deterring and mitigating crime, and sanctioning violators with criminal penalties and rehabilitation efforts.
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