One Problem with Fines Is Determining the Proper Amount

question 111

Multiple Choice

One problem with fines is determining the proper amount. One solution, common in European countries but not in the United States, is:

• A) The use of the day fine
• B) The use of bail
• C) The use of calculus
• D) The use of punishment

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Definitions:

Airline Tickets

Certificates issued by airlines that confirm a passenger's booking and are exchanged for a boarding pass to travel on an airplane.

Price Floors

A minimum price set by the government, above which a particular good or service can be traded in the market.

Sellers

Individuals or entities that offer goods or services in exchange for money or other compensation.

Binding Price Floor

A price floor set above the equilibrium market price, causing a surplus by preventing the market price from falling to its equilibrium level.