Other Things Being Equal, Suppose That the Demand for Wheat

question 312

Multiple Choice

Other things being equal, suppose that the demand for wheat in constant quality units increases. The increase in demand will cause

• A) a surplus of wheat.
• B) a higher equilibrium price and higher equilibrium quantity of wheat.
• C) fall in the market clearing price of corn, a substitute for wheat.
• D) a higher equilibrium quantity, but a lower equilibrium price of wheat.

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Definitions:

Affective Component

The emotional or feeling aspect of an attitude, which includes feelings or emotions associated with a belief.

Attitude

A psychological tendency expressed by evaluating a particular entity with some degree of favor or disfavor.

Unfavourable Attitudes

Negative perceptions or feelings towards a person, group, or concept, which can influence behavior and judgement.

Derogatory Comments

Negative or critical remarks about someone, often insulting or demeaning in nature.