The Economic Way of Thinking Suggests That If the Government

question 86

Multiple Choice

The economic way of thinking suggests that if the government imposed a $500 tax on owners of red automobiles,

• A) fewer red automobiles would be produced and sold.
• B) more red automobiles would be produced and sold.
• C) there would be no change in the number of red automobiles produced and sold.
• D) red automobiles would cease to exist.

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Definitions:

Nonconforming Behaviour

Actions or behaviors that challenge or defy social norms, rules, or expectations set by a society or group.

Desirable Others

Desirable others refer to individuals or entities viewed as attractive or appealing in a social, professional, or personal context, often influencing behaviors and decisions.

Principle of Least Interest

A theory suggesting that in any relationship, the person who has the least interest in continuing the relationship holds the most power.

Membership Reference Group

A group of people to which an individual belongs or aspires to belong, influencing his or her attitudes, behaviors, and preferences.