Figure 9-5 -Refer to Figure 9-5.The Horizontal Line at the World Price

question 353

Multiple Choice

Figure 9-5

-Refer to Figure 9-5.The horizontal line at the world price of wagons represents the

• A) demand for wagons from the rest of the world.
• B) supply of wagons from the rest of the world.
• C) level of inefficiency in the domestic market caused by trade.
• D) surplus in the domestic wagon market.

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Definitions:

Social Comparison

The process of evaluating one's own abilities, achievements, and situation relative to others.

Social Cognition

Research on the processes through which humans process, save, and employ insights about other persons and social environments.

Evolutionary Perspective

An approach in various disciplines that considers the evolutionary backdrop of behaviors, structures, and processes.

Cultural Knowledge

an understanding of the customs, beliefs, and practices of different societies and communities.