The Excess Supply Curve of a Product We (H) Import

question 47

Multiple Choice

The excess supply curve of a product we (H) import from foreign countries (F) increases as

• A) excess demand of country H increases.
• B) excess demand of country F increases.
• C) excess supply of country H increases.
• D) excess supply of country F increases.
• E) excess supply of country F decreases.

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Definitions:

Informational Influence

The process through which individuals change their behavior or beliefs based on the information or evidence presented by others, especially in uncertain situations.

Autokinetic Effect

A visual illusion where a small, stationary point of light in a dark environment appears to move because of involuntary eye movements.

Informational Influence

A social influence that leads individuals to accept information from others as evidence about reality, often leading to internalization or private acceptance.

Low-Ball Technique

Influence technique based on commitment, in which one first gets a person to comply with a seemingly low-cost request and only later reveals hidden additional costs.