All Other Things Unchanged, What Happens If the U

question 132

Multiple Choice

All other things unchanged, what happens if the U.S. reduces its quota on sugar imports?

• A) Net exports increases and shifts the short-run aggregate supply curve to the right.
• B) Net exports decreases and shifts the short-run aggregate supply curve to the right.
• C) Net exports increases and shifts the aggregate demand curve to the right.
• D) Net exports decreases and shifts the aggregate demand curve to the left.

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Definitions:

Fundamental Attribution Error

The cognitive bias that leads individuals to overemphasize personal traits and underestimate the influence of situational factors when explaining other people's behavior.

Halo Effect

The halo effect is a cognitive bias where an observer's overall impression of a person, company, or brand influences their feelings and thoughts about that entity's character or properties.

Distinctiveness

The quality or state of being easily distinguishable from others due to unique characteristics or features.

Consistency

The quality of always acting or performing in a similar manner over time.