Which of the Following Would Be the Least Likely Result

question 116

Multiple Choice

Which of the following would be the least likely result of a price ceiling imposed in the market for gasoline?

• A) Buyers line up to buy gasoline.
• B) Buyers bribe station attendants to fill up their tanks.
• C) Some buyers will get less gasoline than they want.
• D) Competition in the market will be eliminated.

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Definitions:

Actor/observer Bias

A cognitive bias that explains differences in how people attribute causes to their own versus others' behavior; typically attributing one's own actions to situational factors and others' actions to personal characteristics.

Internal Attributions

Explanations for people's behaviors based on their internal characteristics, such as personality traits, motives, or attitudes, as opposed to the influence of external circumstances.

External Attributions

The process of assigning the cause of a behavior or event to factors outside the individual, such as situational or environmental influences.

Causal Explanation

An assertion or theory that attempts to explain the cause of a particular event or phenomenon, establishing one factor as leading to the effect of another.