Examlex

Solved

Jamie Found the ISBN of the Book She Wanted to Order

question 166

Multiple Choice

Jamie found the ISBN of the book she wanted to order in the Books in Print Catalog. To remember the 11-digit number, 19772552901, she thought of the number as the year her best friend was born (1977) and her aunt's phone number (255-2901) . Jamie was using the strategy of _____ to help her remember the ISBN number.


Definitions:

Deadweight Loss

The lost economic efficiency when the equitable or allocatively efficient outcome is not achieved, often due to taxes, subsidies, or monopolies.

Excise Tax

A tax imposed on specific goods, services, or activities, usually to discourage their use or to raise revenue.

Elasticities

Measurements of how changing one economic variable affects others, such as how quantity demanded will change as a result of price changes.

Subsidy Benefit

Government-provided support to aid businesses, individuals, or sectors of the economy through financial help.

Related Questions