Wheat Is the Main Input in the Production of Flour

question 80

Multiple Choice

Wheat is the main input in the production of flour.If the price of wheat decreases,all else equal,we would expect the

• A)demand for flour to increase.
• B)demand for flour to decrease.
• C)supply of flour to increase.
• D)supply of flour to decrease.

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Definitions:

Cognitive Dissonance

A psychological concept referring to the mental discomfort experienced by a person who holds two or more contradictory beliefs, ideas, or values at the same time.

Western Countries

Nations primarily located in the Western hemisphere, often characterized by democratic forms of government and capitalist economies.

Attribution

A concept in psychology referring to how people explain the causes of their own and others' behaviors and outcomes, often as internal dispositions or external situations.

Cognitive Dissonance

The mental discomfort experienced by a person who holds two or more contradictory beliefs, ideas, or values at the same time.