Use the Following to Answer Question 10

question 37

Multiple Choice

Use the following to answer question 10:
Figure: An Excise Tax
-(Figure: An Excise Tax) Use Figure: An Excise Tax.If an excise tax equal to $1.10 is imposed on this good,then the price paid by consumers will:

• A) rise by $1.10.
• B) rise by $1.33.
• C) not rise.
• D) rise by $0.50.

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Definitions:

Sanction

A social mechanism of control where rewards or punishments are used to enforce social norms.

Value

The importance, worth, or utility of something, often reflecting personal or cultural beliefs about what is considered significant or desirable.

Folkway

A folkway is a customary social behavior that is informally enforced in a society, representing the everyday norms and practices.

Pedophilia

A psychiatric disorder characterized by an adult's sexual attraction to prepubescent children.