If the purchase and sale of a currently illegal drug (for example, marijuana) were decriminalized, economists would expect
A) an increase in demand and supply of this drug.
B) an increase in demand and a decrease in supply of this drug.
C) a decrease in demand and an increase in supply of this drug.
D) a decrease in demand and supply of this drug.
A
You might also like to view...
Workers who are unemployed but are not actively looking for jobs are referred to as:
A) laid back workers. B) laid off workers. C) discouraged workers. D) abandoned workers.
According to the quantity theory of money, in the long run, an increase in the quantity of money does not change real GDP but does raise the price level
Indicate whether the statement is true or false
The minimum legal price that can be charged in a market is:
A. full economic price. B. a price floor. C. a price ceiling. D. non-pecuniary price.
Many individuals without health insurance receive "free" care. What are the sources of most of the care they receive?
a. Public hospitals and clinics. b. Private, not-for-profit hospitals. c. Private, for-profit hospitals. d. Multi-specialty physicians' practices. e. Solo practitioners and their associates.