If a Turnip Is a Normal Good Then

question 38

Multiple Choice

If a turnip is a normal good then

• A)a small decrease in income increases the quantity of turnips demanded at the current price by a large amount.
• B)a large decrease in income increases the quantity of turnips demanded at the current price by a small amount.
• C)an increase in income increases the quantity demanded at the current price.
• D)an increase in income decreases the quantity demanded at the current price.
• E)an increase in price decreases the quantity demanded.

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Definitions:

Norm Formation

The process by which new standards of behavior, attitudes, or beliefs become established within a social group.

Group Dynamics

The patterns of interaction, including the processes and behaviors, that occur within a group setting.

Experimental Social Psychology

A branch of psychology that uses experimental methods to study how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time, leading to an alteration in one of the attitudes, beliefs, or behaviors to reduce the discomfort.