If Both Supply and Demand for a Good Increase at the Same

question 43

Multiple Choice

If both supply and demand for a good increase at the same time,which of the following must also increase?

• A)The equilibrium price
• B)The use of substitutes
• C)The equilibrium quantity
• D)The price of substitute goods

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Definitions:

Unconditioned Stimulus

In behavioral psychology, an event that naturally and automatically triggers a response without prior learning.

Extinction

In conditioning, the process through which a previously reinforced behavior is weakened by the absence of reinforcement.

Spontaneous Recovery

The return of a conditioned response that had been previously eliminated, following a period where there was no exposure to the conditioned stimulus.

Thorndike

An American psychologist famous for his work on learning theory that led to the development of operant conditioning within behaviorism.