Suppose That the Quantity of Cars Demanded Exceeds the Quantity

question 110

Multiple Choice

Suppose that the quantity of cars demanded exceeds the quantity of cars supplied. We would expect that

• A) the price of cars will increase.
• B) the price of cars will decrease.
• C) the supply will increase (supply will shift to the right) to meet the demand.
• D) the demand will decrease (demand will shift to the left) to meet the supply.

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Definitions:

Sergey Diaghilev

A prominent Russian art critic, patron, ballet impresario, and founder of the Ballets Russes, who significantly influenced the ballet and artistic scene in the early 20th century.

Émile Durkheim

A French sociologist, significant for his contributions to the establishment of sociology as a recognized academic discipline and for his theories on social cohesion and anomie.

Gustave Le Bon

A French social psychologist best known for his work on crowd psychology, arguing that crowds transform individual psychology, leading to uncharacteristic behaviors.

Modern Life

Describes contemporary human existence, characterized by advanced technology, urbanization, and complex social structures.