In 2014, the Price of Peanuts Was Rising, Which Led

question 4

Multiple Choice

In 2014, the price of peanuts was rising, which led peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. Suppose the effect on the buyers was larger than the effect on the sellers. Consequently, in the current market for peanut butter there is a ________ in the price of peanut butter and ________ in the quantity of peanut butter.

• A) rise; an increase
• B) rise; a decrease
• C) fall; a decrease
• D) fall; an increase

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Definitions:

Fraternal Deprivation

A feeling of discontent caused by the belief that one's group is unfairly disadvantaged compared to another group.

Social Movement

An organized collective effort by a large group of people to achieve a specific goal, typically a social or political change.

Mob Action

Refers to actions or activities carried out by a large group of people, often in an unruly or violent manner.

Contagion Theory

A theory in social psychology that explains how ideas, attitudes, and behaviors can spread rapidly through crowds or groups, akin to the spread of diseases.