When a Demand Curve Shifts, Both the Equilibrium Price and Quantity

question 158

True/False

When a demand curve shifts, both the equilibrium price and quantity traded will change in the same direction as a result.

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Definitions:

Social Contagion Theory

A social psychological theory that explains how behaviors, attitudes, and emotions can spread through populations as if they were infectious diseases.

Social Identity Theory

A theory that posits individuals derive part of their self-image and self-esteem from the social groups to which they belong, influencing behaviors and attitudes.

Elaboration Likelihood Model

A theory in social psychology that proposes two routes to persuasion: the central route, which deals with the logical processing of information, and the peripheral route, which involves more superficial processing.

Mere Exposure Effect

A psychological phenomenon where individuals develop a preference for things simply because they are familiar with them.