Society Might Argue That There Are Cases in Which It

question 93

Multiple Choice

Society might argue that there are cases in which it is appropriate to resist price increases in situations where scarcity is serious.Included would be the case of

• A)unrestrained monopoly that would otherwise succeed in gouging the public.
• B)taxes imposed on products capriciously and inappropriately.
• C)rising prices falling so heavily on the poor that rationing becomes preferable.
• D)All of the above are correct.

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Definitions:

Unconstitutional Conditions

The principle that the government cannot condition the receipt of a government benefit or the ability to participate in a government program upon the waiver of a constitutionally protected right.

Just Compensation

Refers to the compensation or remuneration required by law to be paid to an individual whose property has been taken for public use, ensuring the payment is fair and adequate.

Takings Clause

A provision in the Fifth Amendment of the U.S. Constitution that prohibits the government from taking private property for public use without "just compensation."

Fair Market Value

The price at which a willing buyer and a willing seller, both having reasonable knowledge of the relevant facts and not under any compulsion, would likely agree to transact.