Suppose State Governments,in an Attempt to Help Save the Family

question 135

Multiple Choice

Suppose state governments,in an attempt to help save the family farm,issued licenses that allowed them to grow a heretofore-illegal substance.As a result,

• A)both equilibrium price and quantity of the substance will rise.
• B)both equilibrium price and quantity of the substance will fall.
• C)equilibrium price will rise and equilibrium quantity will fall for the substance.
• D)equilibrium price will fall and equilibrium quantity will rise for the substance.

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Definitions:

Votes

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The system of transporting documents and other small packages through a postal service or courier company.

President

The elected head of state and government in a republican form of government, responsible for executing the laws and leading the executive branch.

Electoral College

The body of electors established by the United States Constitution, responsible for selecting the President and Vice President.