Alice Was Attacked by a Pig When She Was a Child

question 165

Multiple Choice

Alice was attacked by a pig when she was a child, and developed a strong phobia of pigs. Whenever she sees a pig-whether on a farm, in a zoo, or even in a movie-she has a strong and immediate automatic reaction. This reaction is best classified as a(n) ____.

• A) emotion
• B) affect
• C) mood
• D) attitude

Define productive and allocative efficiency and differentiate between them.

Assess how changes in determinants of demand and supply, such as consumer income or resource prices, affect market equilibrium.

Explain the impact of changes in the prices of substitute goods on the demand for a product.

Identify the outcomes of simultaneous shifts in both supply and demand curves on equilibrium price and quantity.

---

Definitions:

Liquidation

The process of converting assets into cash, often associated with dissolving a business and distributing its assets to claimants.

Homestead Cap

The homestead cap is a legal provision that limits the annual increase in valuation of a homestead property for property tax purposes.

Aggregate Interest

The total amount of interest payable or receivable over the life of a loan or investment.

Convicted

A legal finding that someone is guilty of a crime after a trial or through a guilty plea.