Suppose That the Demand Curve for a Good Is Given

question 130

Multiple Choice

Suppose that the demand curve for a good is given by Q_D = 100 - 2P_D,while the supply curve for the good is given by Q_S = 60 + 2P_S.If the price in this market is currently equal to 20,then there is currently ______ in the amount of _____ units.

• A) excess demand;20
• B) excess demand;40
• C) excess supply;20
• D) excess supply;40
• E) excess supply;100

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Definitions:

Ego Analysis

A psychoanalytic practice focusing on understanding and analyzing the functions of the ego, including defence mechanisms and the handling of the demands of the id, super-ego, and external world.

Rational-Emotive Therapy

A form of therapy developed by Albert Ellis that is concerned with how people interpret events and how these interpretations influence their responses. These interpretations, or mediating processes, are cognitive and result from the person’s belief systems.

Cognitive Therapy

Based on the assumption that an individual’s perception of events, rather than the events themselves, affects adjustment. This form of treatment focuses on identifying automatic thoughts and changing maladaptive patterns of thinking that are associated with distress (also see cognitive-behavioural).

Psychopathology

The study of mental disorders, including their symptoms, etiology (causes), and treatment.