If the Price Is Below the Equilibrium Price

question 43

Multiple Choice

If the price is below the equilibrium price,

• A) there is a surplus.
• B) there is a shortage.
• C) the supply curve will shift rightward.
• D) the supply curve will shift leftward.
• E) the demand curve will shift leftward.

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Definitions:

Working Memory

is a cognitive system with a limited capacity that is responsible for temporarily holding information available for processing, which is essential for reasoning, guidance of decision-making, and behavior.

Control of Attention

Refers to the ability to direct and focus cognitive resources on specific stimuli or activities.

Mental Speed

The rapidity with which an individual can process information, often linked to cognitive ability and intelligence.

Working Memory Capacity

The amount of information that can be temporarily held and manipulated in the mind for cognitive tasks like problem-solving and language comprehension.