Figure 3-6 -Which of the Following Is Evidence of a Shortage of a Shortage

question 116

Multiple Choice

Figure 3-6
-Which of the following is evidence of a shortage of walnuts?

• A) Firms lower the price of walnuts.
• B) The price of cashews is lowered in order to make up for the walnut shortage.
• C) The equilibrium price of walnuts falls due to a decrease in demand.
• D) The quantity demanded of walnuts is greater than the quantity supplied.

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Definitions:

Generalization

Drawing broad conclusions from specific instances; in psychology, it refers to the process of applying findings from a study to larger population segments.

Flooding

A psychological technique used in therapy to help individuals face their fears by exposing them to high levels of emotional stimuli.

Systematic Desensitization

A therapeutic method used to reduce phobia or anxiety through gradual exposure to the feared object or situation combined with relaxation techniques.

Generalized

refers to a concept or phenomenon that is made broad and not limited to specific instances, often forming general statements or theories based on observations.