Garbanzo Beans -Consider the Above Table. Assuming the Government Imposes a Price

question 309

Multiple Choice

Garbanzo Beans

-Consider the above table. Assuming the government imposes a price ceiling on garbanzo beans of $4, what would be the likely result?

• A)a surplus of 2,000 garbanzo beans
• B)a shortage of 2,000 garbanzo beans
• C)No change, equilibrium would prevail.
• D)The quantity demanded of garbanzo beans would fall to zero.

---

Definitions:

Perceptions

The process of interpreting sensory information to form an understanding of the environment around us, influenced by experience, beliefs, and behavior.

Persons Versus Situations

A debate in psychology concerning the relative influence of personal traits and situational factors on human behavior.

Behavior

Behavior refers to the actions or reactions of an organism or system, usually in response to the environment, which can be observable or measurable.

Funder

A term often referring to an individual or organization that provides financial resources for projects or research.