Which of the following is a CORRECT statement about markets for prohibited goods?
A) Penalizing sellers of an illegal good decreases supply and penalizing buyers decreases demand.
B) Penalizing either buyers or sellers of an illegal good decreases the quantity bought.
C) Taxing a good at a sufficiently high rate can achieve the same consumption level as prohibition.
D) All of the above are correct statements.
D
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According to economists, human activity is unresponsive to changes in costs
a. True b. False Indicate whether the statement is true or false
In the United States, which is the largest dollar figure?
A) disposable personal income B) gross domestic product C) per-capita GDP D) personal income
A firm will practice price discrimination when it believes that by doing so it will be able to increase total
A) sales. B) revenue. C) profits. D) production.
From 1995 to 2001, the debt-GDP ratio in the United States
A. fell from 1995 to 1998, then rose sharply. B. steadily increased. C. steadily fell. D. was about constant.