If the Government Wanted to Reduce the Quantity of a Good

question 14

Multiple Choice

If the government wanted to reduce the quantity of a good traded, it could do so by:

• A)setting a price ceiling for the good below the equilibrium price.
• B)setting a price floor for the good above the equilibrium price.
• C)tax the good more heavily.
• D)tax an input used intensively in the industry more heavily.
• E)doing any of the above.

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Definitions:

Five Factors

Often related to the "Big Five" personality traits model, which includes openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Social Support

The perception or reality of assistance and solidarity available from others, especially during times of stress or need.

Stable

Consistent and unchanging over time.

Social Cognitive Psychologist

A professional in psychology who studies how people's thoughts, feelings, and behaviors are influenced by observing others, as well as by their interactions in social contexts.