Tracy Does Not Have an Unusually High IQ, but at Work

question 181

Short Answer

Tracy does not have an unusually high IQ, but at work she is quickly promoted because she knows how to set priorities, communicate with management, and make others feel valued. Tracy has ___________ knowledge about how to succeed on the job.

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Definitions:

Savings Rate

The savings rate is the proportion of disposable income that is saved by households rather than spent on consumption.

Conspicuous Consumption

The spending of money on and the acquisition of luxury goods and services to publicly display economic power or social status.

Induced Consumption

Consumer spending that increases when income rises and decreases when income falls, reflecting a direct relationship between income and consumption.

Total Consumption

The aggregate amount of goods and services consumed by individuals, households, and others in an economy during a given period.