If New York City Had No Medallion System for Taxicabs,assuming

question 128

Multiple Choice

If New York City had no medallion system for taxicabs,assuming that the supply curve of taxicab rides is upward sloping and the demand curve for taxicab rides is downward sloping,economic theory would predict that the price of a taxicab ride would:

• A)increase because of the higher safety hazards.
• B)not change from its current level.
• C)decrease.
• D)increase,but only slightly.

---

Definitions:

Self-Justification

The defense mechanism in which individuals provide reasons or explanations for their behaviors or beliefs in a manner that defends their self-concept.

High Self-Efficacy

The belief in one's own ability to succeed in specific situations or accomplish a task.

Mathematical Neurosis

An intense anxiety or fear related to math and mathematical problem-solving.

Incongruence

Incongruence refers to a mismatch or lack of alignment between an individual's self-image and their actual experiences or behaviors, often leading to psychological discomfort.