If Tastes for a Good Increased and the Price of a Substitute

question 229

Multiple Choice

If tastes for a good increased and the price of a substitute good decreased at the same time, as a result:

• A)​prices would rise.
• B)​prices would fall.
• C)​larger quantities to be exchanged.
• D)​we would not know which direction either prices or quantities exchanged would be altered without more information.

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Definitions:

Scapegoating

Blaming a person or group for problems or negative outcomes, often as a way of distracting from the real causes or issues.

Milgram's Obedience Study

An experiment conducted by Stanley Milgram in the 1960s to study the extent to which individuals would follow orders from an authority figure, even when those orders could harm another person.

Serious Harm

A significant or profound negative impact on an individual's physical, emotional, or psychological well-being.

Authority

A right or power assigned to an individual or organization to make decisions and enforce rules.