If Consumers Buy a Large Number of Plug-In Electric Cars,the

question 239

Multiple Choice

If consumers buy a large number of plug-in electric cars,the equilibrium price of electricity will ________ and the equilibrium quantity of electricity will ________.

• A) rise; increase
• B) rise; decrease
• C) fall; increase
• D) fall; decrease
• E) not change; increase

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Definitions:

Elaborative Rehearsal

A memory technique that involves thinking about the meaning of the term to be remembered, rather than merely repeating the term to oneself.

Rote Repetition

The process of learning or memorizing something through continuous repetition without understanding the underlying meaning.

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, also known as the "knew-it-all-along" effect.

Monday Morning

A term often symbolizing the start of the work or school week, associated with a return to routines after the weekend.