If Oregon Passed a Statute That Prohibited Liquor Stores from Engaging

question 16

Multiple Choice

If Oregon passed a statute that prohibited liquor stores from engaging in any kind of advertising,that statute would be

• A)valid as an exercise of police power.
• B)valid,as alcohol is illegal for minors.
• C)invalid as a violation of the Commerce Clause.
• D)invalid as an unreasonable restriction of free speech.

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Definitions:

Neoclassical Economics

An approach in economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.

Behavioral Economics

A branch of economics focused on understanding how a range of factors, including psychological, cognitive, emotional, cultural, and social elements, influence the economic decision-making processes of both individuals and institutions.

Hedonic Treadmill

A concept suggesting that people consistently return to a relatively stable level of happiness despite major positive or negative events or life changes.

Richard Easterlin

An economist known for the Easterlin Paradox, which posits that people's happiness does not necessarily increase as their country's economy grows.