What Is Step One in the Three-Step Program for Analyzing

question 128

Multiple Choice

What is step one in the three-step program for analyzing changes in equilibrium?

• A) Decide in which direction the curve shifts.
• B) Decide whether the event shifts the supply or demand curve.
• C) Use the supply-and-demand diagram to see how the shift changes the original equilibrium.
• D) Analyze how equilibrium price and quantity have changed.

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Definitions:

Classically Conditioned Learning

An educational method where two stimuli are paired together multiple times; initially, the second stimulus triggers a response, but over time, this response is triggered by the first stimulus alone.

Extinct

A term used to describe a species that no longer exists anywhere on Earth.

Reinforced

Strengthened or supported, especially in terms of structure, behavior, or beliefs.

Dishabituated

The process of responding to an old stimulus as if it were new again, typically after the stimulus has not been presented for a period of time.