In the Market for Personal Computers and in the Stock

question 70

Multiple Choice

In the market for personal computers and in the stock market:

• A) supply and demand shifts change prices and quantities.
• B) persistent shortages and surpluses rarely exist.
• C) in response to shifts in demand and supply, equilibrium is restored quickly.
• D) all of the above are true.

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Definitions:

Implicit Association Test (IAT)

A psychological assessment method measuring the strength of automatic associations between concepts in one's memory.

Postdecisional Dissonance

A form of psychological stress experienced after making a difficult choice, typically involving doubts about the decision.

Cognitive Dissonance

The mental discomfort or stress experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Justification of Effort

A concept in social psychology suggesting that individuals assign greater value to outcomes they have put effort into achieving.