What Is the Difference Between a Shift in the Demand

question 50

Multiple Choice

What is the difference between a shift in the demand curve and a movement along the demand curve?

• A) A shift is a reaction to a movement along the demand curve.
• B) A shift implies a change in the whole demand curve; a movement does not.
• C) A shift conveys a change in the opportunity cost; a movement does not.
• D) A shift creates a new equilibrium price; a movement creates a new equilibrium quantity.

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Definitions:

Heuristics

Simple, efficient rules, either hard-coded by evolutionary processes or learned, that help in making decisions, forming judgments, or solving problems.

System II Strategies

Cognitive processes associated with analytical thinking that are deliberate, controlled, and typically require conscious effort, as opposed to intuitive or automatic System I processes.

Atypical

Atypical refers to something that is not typical or usual; in medical or psychological contexts, it often describes conditions, behaviors, or responses that deviate from the norm.

Prison Guard

An individual responsible for the supervision, safety, and security of prisoners in a jail or prison.