Assume That Coffee and Tea Are Substitutes

question 64

Multiple Choice

Assume that coffee and tea are substitutes. When the price of coffee increases

• A) the demand for tea decreases.
• B) the demand for tea increases.
• C) the supply of tea increases.
• D) the supply of tea decreases.

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Definitions:

Political Liberals

Individuals who generally support progressive reforms, individual rights, and a greater role for government in society for the sake of equality.

Role Playing

The act of imitating the character and behavior of someone who is different from oneself, often as a learning tool or in therapy.

Foot-In-The-Door Phenomenon

A tactic for getting a person to agree to a large request by first setting them up to agree to a modest request.

Cognitive Dissonance

The cognitive dissonance faced by individuals when they hold onto multiple incompatible beliefs, ideas, or values at the same time.