According to the Text,the "Doomsayers" Who Argue That,in All Likelihood,the

question 24

Multiple Choice

According to the text,the "doomsayers" who argue that,in all likelihood,the worst case scenario-a huge increase in harmful drug abuse-will come about under drug legalization are:

• A) right.
• B) wrong.
• C) could be right or wrong-who knows?
• D) are optimists-the outcome will be even worse than the "doomsayers" predict.
• E) none of the above.

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Definitions:

Tax Reduction

The act of decreasing the rates or amounts of taxes imposed by a government, often with the aim of stimulating economic growth or providing relief to taxpayers.

Income of Consumers

The total earnings received by individuals and households from various sources including wages, salaries, benefits, and investment income.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the price where supply and demand are balanced.

Alfred Marshall

A British economist known for his work on microeconomics and for developing the concepts of supply and demand elasticity.