Those Who Make Economic Policy Concerning Price Controls Often Do

question 9

Multiple Choice

Those who make economic policy concerning price controls often do so in order to:

• A) establish a more equitable result based on normative judgments.
• B) raise revenues to support the activities of government.
• C) change the facts on which economic theory is built.
• D) do all of the above.

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Definitions:

Heuristic-Systematic

Referring to a model of information processing that includes a heuristic, or shortcut, method and a systematic, or detailed, method for decision making.

Elaboration-Likelihood

A model of persuasion that posits there are two primary cognitive processing paths—central and peripheral—that influence the likelihood of message-induced attitude change.

Persuasion Cues

Elements in communication that influence the receiver's acceptance of a message, including source credibility, message content, and emotional appeals.

Reciprocity Principle

A social psychology concept stating that people are more likely to comply with a request from someone who has previously done something for them.