Referring to the Economics in Practice on Page 320: If

question 50

Multiple Choice

Referring to the Economics in Practice on page 320: If restaurants are required to include calorie and fat-content labels on menus, the demand curve for high-fat, high-calorie menu items will most likely shift to the _____, resulting in ________ in the equilibrium price of these items.

• A) right; an increase
• B) right; a decrease
• C) left; an increase
• D) left; a decrease

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.