There are two correct options from all the available ones in the question: alcohol has a highly inelastic demand and the government wants people to drink less.
A highly inelastic demand refers to an economic situation where demand for a product does not increase or decrease event though price rises or falls – even though the demand quantity for alcohol might fall, the total revenue will still be the same.
The second option is also correct since if the government levies a 40% tax on alcohol, they probably want the citizens to stop consuming them so much.
The ability to punish a subordinate is associated with POSITION power.
A bureaucratic institution that operates primarily without executive or legislative oversight is referred to as an independent regulatory agency.
<h3>What are the functions of independent regulatory agencies?</h3>
Independent regulatory agencies are federal agencies that are apart from the executive departments and were established by an act of Congress.
Despite the fact that they are part of the executive branch, these agencies are intended to impose and implement regulations without regard for political considerations.
The regulatory agency is an independent governmental entity formed by statute to develop and enforce standards in a certain field of activity, or operations, in the private sector of the economy.
To learn more about independent regulatory agencies refer to the link:
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Answer: b
Explanation:
Both parties are affected- they both agreed to meet and sell/buy the book.
